Fed Vice Chair JEFFERSON said he is monitoring whether high energy prices could put pressure on consumer spending.

AUD/USD fell below 0.71, down 0.58% intraday.

According to The Hill, the U.S. Federal Aviation Administration (FAA) on Wednesday ordered SpaceX to investigate the cause of a Super Heavy booster losing control and falling into the Gulf of Mexico during a test flight last week. After assessing the 12th Starship launch, the FAA said the launch "experienced an accident" and that the failure originated with the Super Heavy booster, which fell into the Gulf during its return following stage separation. The FAA added there are no reports of injuries or property damage and said it will oversee the company-led investigation; Starship may not fly again until the FAA approves SpaceX's final investigation report and any corrective measures.