The AUD/USD pair closed the previous three days in the positive territory and touched a weekly high of 0.7801 on Friday. However, with the greenback regathering its strength, the pair reversed its direction and was last seen losing 0.45% on the day at 0.7752.
Following a sharp decline earlier in the week, a strong recovery seen in the US Treasury bond yields seems to be providing a boost to the USD. The benchmark 10-year US T-bond yield is currently rising nearly 4% at 1.6% and the US Dollar Index (DXY) is gaining 0.51% at 91.88. Despite the recent decline, AUD/USD will manage to post weekly gains unless it drops below 0.7700 in the remainder of the day.