AUD Soars Against USD on Waller's Dovish Comments and Rising Oil Prices

The Australian Dollar rose against the US Dollar on Thursday as Federal Reserve Governor Christopher Waller's comments turned moderately dovish ahead of the September meeting. The AUD/USD traded at 0.7200, up 0.44%. Oil prices also increased due to a resumption of hostilities in the Middle East.

The Greenback's sell-off continued, with the USD/JPY tumbling and dragging the US Dollar Index (DXY) down with it. The DXY, which tracks the performance of a basket of six currencies against the US Dollar, was down 0.58% at 99.00.

Waller's comments suggested that structural deficits would have to be brought under control for the United States to grow its way out of a $40 trillion debt load.