AUD Holds Firm Amid Geopolitical Turmoil and Expected Rate Hike

The Australian Dollar has maintained its value above 0.70 against the US Dollar despite market sentiment deteriorating due to fading hopes of a US-Iran peace agreement.

This development pushed US bond yields higher and led to US equity markets falling, causing the AUD/USD to dip by 0.10%.

The Reserve Bank of Australia (RBA) is expected to raise interest rates by 25 basis points from 4.60% to 4.85%, which would be the highest level since 2008.

ANZ analysts anticipate a split vote, citing 'the timing and apparent preference' as reasons for this prediction.