The Greenback traded with marked losses at the start of the week, as market participants remained cautious ahead of Chief Powell's and another central banker's speech at the ECB Forum in Portugal, while also keeping an eye on trade developments and the likelihood of additional Fed easing.
The Dow Jones Industrial Average (DJIA) gapped into fresh 19-week highs at the start of the new trading week, testing above 44,000 for the first time since mid-February.
There has been no increase in either downward or upward momentum; Australian Dollar (AUD) is expected to trade in a sideways range of 0.6505/0.6555 against US Dollar (USD). In the longer run, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.