Forex
Home›Forex›Major Pairs›AUD/USD nears 0.7000 as Middle East risks ease and USD…
AUD/USD nears 0.7000 as Middle East risks ease and USD weakens
AUD/USD was up 0.33% on the day near 0.7000, supported by expectations for tighter RBA policy after a strong June jobs report.
FXStreet reports AUD/USD traded around 0.7000 on Monday, rising 0.33% as the US Dollar weakened.
The move was linked to easing signals on Middle East tensions, including renewed diplomatic efforts between the US and Iran that reduced demand for safe haven assets.
FXStreet also cited lower oil prices weighing on US inflation concerns, while the Australian Dollar gained support from Australia’s strong June employment report, reinforcing expectations that the Reserve Bank of Australia could deliver another interest rate hike.
Still, FXStreet said traders were cautious ahead of this week’s Federal Reserve meeting, where rates are widely expected to be left unchanged, and investors are also waiting for June and second quarter inflation data to gauge how far the RBA may tighten policy further.