Daily digest market movers Australian Dollar tumbles as USD demand surges amid hawkish Federal Reserve bets.
The RBA's hawkish stance may offer temporary support, but the bearish trend persists.
The latest Minutes showed that the bank members are considering both rate hikes and rate cuts in the near term.
The USD regained upside traction amid easing geopolitical concerns and mixed US yields.
The Federal Reserve's reluctance to cut interest rates in December weakened the USD and weighed on equities globally.
In that sense, the CME FedWatch Tool suggests a near 60% chance of a rate cut in the meeting next month after being nearly priced in, which helped the USD recover in the last few sessions.
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