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AUD/USD rises to 0.6972 as US dollar strengthens elsewhere
The Australian dollar gained for a second straight day despite firmer US Treasury yields, leaving the US dollar higher versus a six-currency basket but not against AUD.
The Australian dollar posted back-to-back gains on Monday, even as US Treasury yields edged higher. FXStreet reports the US dollar strengthened against a basket of six currencies, but did not rise versus the Australian dollar.
AUD/USD traded at 0.6972, up 0.37%, as markets weighed a mixed US data calendar and rate expectations. FXStreet said the US ISM Services PMI in September eased to 54.9 from 55.4, below forecasts of 55.
FXStreet also pointed to an otherwise light US economic schedule until the release of the Fed’s last meeting minutes on October 7, with additional data including initial jobless claims and the University of Michigan consumer sentiment later in the week.
On the margin, the outlet linked the broader move in US yields to equity strength and energy developments, including commentary around WTI and reported changes to European diesel and crude reserve withdrawals, along with traffic intensifying near the Strait of Hormuz.
Latest closeWTI crude $89.31 ▼2.0%