AUD Soars to Three-Month High on Rate Hike Bets

The Australian Dollar has reached its highest level in over three months after the release of strong GDP data, which has intensified bets on an imminent RBA rate hike.

According to Rabobank analysts, the economy's resilience supports the AUD/USD pair, and further hawkish signals from RBA officials could maintain the Australian Dollar's support at current levels.

The US Dollar struggles to capitalize on stronger-than-expected labor market data, with the Nonfarm Payrolls for August exceeding expectations but failing to generate significant demand for the Greenback.