AUD/USD hits 1-week highs above 0.7630

AUD/USD is trading at the highest level in a week, above 0.7640. The pair rose 30 pips during the last two hours, breaking above 0.7625/30. 

USD down across the board 

The release of Donald Trump Jr. emails regarding Russian interference in the campaign and comments from Fed’s Brainard triggered a decline of the greenback in the market. The US Dollar Index fell to 95.36, hitting the lowest in a week and it moved closer to 2017 lows, that lie at 95.17. 

Donald Trump Jr. tweeted out e-mail chain that promised info on Clinton

US Senate Intelligence Committee requesting documents from Trump Jr. - Reuters

US Dollar drops sharply on dovish Brainard comments

AUD/USD dropped at the beginning of the American session and found support above the 0.7600 handle. It started to move slowly to the upside and accelerated during the last hours. It peaked at 0.7642, the strongest since July 3. 

The pair appears the be resuming the upside, after the bearish correction from 0.7712 to 0.7570 (last week low). A consolidation above 0.7630 would be a positive technical signal for the Aussie. While a slide back below 0.7610,  could bring momentum back to the US dollar.

AUD outperforming 

The Australian dollar is among the top performers on Tuesday. Other commodity currencies are lower against the US dollar while the Aussie is up 0.40%. 

Part of the support to the Aussie comes from the AUD/NZD rally. The pair gained today more than 50 pips and reached 1.0564, the highest level since late May.