Australian Dollar futures drop to 2-month lows as Fed speakers turn hawkish.

Dan Deming outlines the recent price action across major FX markets, noting that Australian Dollar futures have traded lower for a third consecutive session to reach two-month lows near the 0.7020 level. Deming explains that hawkish comments from Federal Reserve speakers regarding higher interest rates, combined with stronger-than-expected economic data, have bolstered the U.S. dollar and pressured foreign currencies. He also examines the broader impact on the currency space, highlighting that Euro futures are trading at two-month lows while the British Pound has fallen to levels not seen since early June, as rising U.S. yields continue to weigh on the FX complex.