2350 GMT - The Aussie dollar jumped by 1% against the greenback after FOMC chair Powell indicated on Friday he may be open to cutting the Funds rate soon. AUD/USD began trading in the Asia day around 0.6490. Market pricing for a cut to the Fed funds rate in September increased from 73% to 84%, says Joe Capurso, economist at CBA. U.S. government bond yields fell across the curve and U.S. equities surged. Capurso says he now expects the FOMC to restart its interest rate cutting cycle in September. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
August 24, 2025 19:50 ET (23:50 GMT)
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