AUD Holds Near Two-Month High Amid US Inflation Concerns

The Australian Dollar (AUD) holds steady near its two-month high, trading around 0.7115 at the time of writing, up 0.1% on the day.

This comes as the US Dollar (USD) attempts to rebound after touching a two-month low, with rising Oil prices fueling concerns about potential inflationary pressures in the United States.

The Greenback finds support due to these concerns, which could lead the Federal Reserve (Fed) to maintain a restrictive monetary policy stance for longer.

A sustained increase in energy costs could reinforce inflation risks and complicate the Fed's monetary easing path.