FXStreet (Edinburgh) - Strategist at Westpac Sean Callow has slipped the chance that the Aussie dollar could re-test the 0.74 mark in the near term. Key Quotes “AUD is among the currencies likely to continue benefiting from the cooling in USD sentiment. The Aussie is traditionally a high beta anti-USD currency, AUD/USD falling more than all major currencies in the GFC and then outperforming strongly in 2009-11 as USD sank”. “If there is no revival in the prospects of a Fed rate hike then the overhang of short AUD/USD positions should be steadily unwound, helping the pair have another test of the 0.74 level that held so convincingly earlier this week”. “Meanwhile, RBA rate cut pricing has increased as markets consider whether the upward pressure on domestic banks’ mortgage rates from higher capital requirements will prompt an off set in the cash rate”. “Such talk should be one factor that keeps a lid on AUD gains, including against the US dollar”. For more information, read our latest forex news.