US TEN Year Yield

AUD/USD retreated for a second consecutive day as US and Australian bond yields climbed to multi-year highs ahead of the Federal Reserve decision. Despite the pullback to 0.7130, the pair remains above its 50-day EMA, keeping a near-term bullish rebound scenario alive.

GBP/USD remains on the defensive as escalating US-Iran tensions, higher energy prices and rising government bond yields support demand for the dollar. Technical traders are watching whether weakness below recent support opens the way toward 1.3450 in the near term.