Aud/Usd Consolidates Near Highest Level Since Mid-May Amid Mixed Cues
Aud/Usd is consolidating just below its highest level since mid-May at around 0.7200, despite mixed cues in the market.
The Australian Dollar has been bolstered by hawkish RBA expectations, but this upward momentum has been capped by the safe-haven US Dollar.
The recent upbeat US NFP report boosted Fed rate hike bets, while escalating tensions between the US and Iran have also contributed to the US Dollar's strength.