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Home›Forex›Major Pairs›AUD/USD defends 0.7000 as RBA and safe-haven USD domin…

AUD/USD defends 0.7000 as RBA and safe-haven USD dominate

The pair was near its lowest level since August 4, with rising US yields and bets on an October Fed rate hike supporting the US dollar.

Reported · Written up by our desk · Major Pairs

AUD/USD defended the 0.7000 level at the start of the week, after trading near its lowest level since August 4, as the US dollar stayed supported by safe-haven demand, according to FXStreet.

The outlook for the pair is being shaped by US yields holding near multi-year highs, inflation risks tied to higher oil prices, and rising expectations for an October Fed rate hike, the outlet said.

FXStreet added that the US-Iran standoff is also helping underpin the dollar and weigh on AUD/USD ahead of Tuesday's RBA policy decision.

← Newer storyEUR/USD forecasts are revised lower as dollar strength persists

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Sources

FXStreetS&P 500: Equities resilient despite rates selloff – Deutsche Bank

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