AUD Holds Steady Ahead of RBA Rate Decision

The Australian Dollar continues to trade above the psychological mark of 0.7000 against the US Dollar as traders await the Reserve Bank of Australia's (RBA) interest rate decision.

Although a hawkish RBA outlook is expected, investors are cautious due to rising Fed hike bets and surging US bond yields that benefit the safe-haven Greenback.

The RBA's decision, particularly the accompanying Monetary Policy Statement (MPS), will provide crucial cues about the future policy path of Australia.