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AUD/USD Holds Firm Despite Japan's Disappointing LEI Reading
The Japanese Leading Economic Index (LEI) for July came in at 117.9, falling short of forecasts that predicted a reading of 118.1.
This development had little to no impact on the AUD/USD currency pair, which continued to trade just below its highest level since mid-May around 0.7200.
The Australian dollar received support from hawkish expectations surrounding the Reserve Bank of Australia's (RBA) monetary policy decisions, while the US dollar was bolstered by the strong US Non-Farm Payrolls (NFP) report and escalating tensions between the US and Iran.