• AUD/USD has traded a 15.2 pip range thus far Monday; 0.7161-0.71762

• The peak of that range is 3.8 pips shy of Friday's 11-week high

• Ascent to 0.7180 fuelled by U.S. Treasury's bond buying gambit

• Gambit was announced on August 19 (0.7067 was AUD/USD low that day)

• CFTC data: net AUD short rose to 44,159 contracts in week to August 18

• 44,159 contracts is largest net AUD short position since December 2025

AUDUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)