AUD/USD inter-markets: seems vulnerable to continue drifting lower in the near-term

The Australian Dollar has witnessed intense selling pressure following Tuesday's release of minutes from RBA's latest monetary policy meeting, which left doors open for further rate-cuts by the central bank in the near-future and has led to a slide in Australian 10-years treasury yields. 

Adding to this, upbeat housing market data out from the US on Tuesday added to the recent slew of positive economic releases and supported the optimistic view of a better economic outlook for the world's largest economy, which has now fueled speculation of further Fed rate-hike action later this year. The expectation is clearly reflected in CME group's Fed Fund future that is pricing-in 40% probability of such an action in December. 

Adding to this, weakness in base metals - like copper, also seems to be denting demand for commodity-linked currencies, like the Aussie. Moreover, a sudden spike in the Volatility Index (VIX) is supporting safe-haven appeal of the US Dollar and exerting additional selling pressure around the AUD/USD major. 

Meanwhile, diverging monetary policy expectations has now led to increasing yield spread between US and Australian 10-years treasuries, which now increases the pair's vulnerability to continue with its near-term downward trajectory back towards Brexit-led swing lows support near 0.7300 handle.