AUD Hits Two-Month Highs Amid US Dollar Weakness

The Australian Dollar has hit two-month highs at 0.7088 as it capitalizes on the US Dollar's weakness, which is still reeling from last Friday's Nonfarm Payrolls disappointment.

The Reserve Bank of Australia (RBA) is expected to leave its benchmark interest rate unchanged at 4.35% on Tuesday, with investors wary of placing large directional bets ahead of the decision.

The RBA's policy statement and Governor Bullock's press release will be closely watched for hints about further rate hikes in the coming months.