AUD/USD Fluctuates Near Highs as Hawkish RBA Meets Fed Rate Hike Bets
The AUD/USD currency pair has been consolidating near its highest level since mid-May, trading around 0.7200 at the start of a new week.
This stability is attributed to hawkish expectations from the Reserve Bank of Australia (RBA), which continue to support the Australian dollar.
However, not all is calm in the market, as the upbeat US Non-Farm Payroll (NFP) report has lifted bets on a Federal Reserve rate hike. This, combined with escalating tensions between the US and Iran, has underpinned the safe-haven US Dollar.