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AUD/USD slips below 0.7000 as Australian dollar comes under pressure

The Australian dollar was down almost 0.4% versus the US dollar during European trading, according to FXStreet.

Reported · Written up by our desk · Major Pairs

FXStreet reports the Australian dollar underperformed its major currency peers during European trading on Tuesday, with AUD/USD falling to just below 0.7000.

The outlet says AUD was down almost 0.4% versus the US dollar, making it the weakest among the listed major currency pairs for the session.

FXStreet also points to pressure on the currency despite support from yield appeal, noting that RBA Governor Michele Bullock delivered hawkish remarks after the central bank raised its Official Cash Rate one more time this year.

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