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Aussie dollar falls as oil shock lifts the US dollar

AUD/USD was near 0.6950 after dipping from below 0.7000, while the US Dollar Index rose 0.3% to 102.56.

Reported · Written up by our desk · Major Pairs

FXStreet reports the Australian dollar ended Monday’s session down close to 0.4% amid thin liquidity from the Columbus Day holiday, with US cash markets largely closed.

The outlet links the retreat in AUD/USD, which traded near 0.6950 after peaking below 0.7000, to geopolitical developments and a flight to safety that supported the US dollar.

FXStreet also points to firmer energy prices, with WTI up more than 1.6% to $93.17, as geopolitical tensions including strikes affecting energy infrastructure and shipping routes boosted demand for the dollar.

The US Dollar Index, tracking the dollar against six peers, rose 0.3% to 102.56, according to FXStreet, with trading guided by the latest headlines.

Latest closeWTI crude $91.10 ▲3.2%|Dollar index 102.12 ▼0.1%

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