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Australian dollar gains versus US dollar despite firm Treasury yields

AUD/USD was up 0.34% at about 0.6970, even as US services data stayed resilient and ISM prices pressures rose.

Reported · Written up by our desk · Major Pairs

The Australian dollar edged higher against the US dollar on Monday, with AUD/USD trading around 0.6970, up 0.34% on the day, according to FXStreet. The pair managed the gain despite continued strength in the US dollar, which the outlet links to elevated Treasury yields.

FXStreet pointed to mixed but resilient US activity signals from services sector data. The Institute for Supply Management services PMI eased to 54.9 in September from 55.4 in August.

The same ISM release showed inflationary pressures picking up, with the Prices Paid Index rising to 74.0 from 72.6, while the Employment Index improved to 50.1 from 47.8 and New Orders slipped to 59.8 from 60.9. FXStreet also cited a slight upward revision to the final S&P Global Services PMI, raised to 58.8 in September from the preliminary 58.7.

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