AUD Surges to 0.7000 Amid Middle East De-escalation

The Australian Dollar (AUD) has risen to around 0.7000 against the US Dollar (USD), up 0.33% on Monday, as investors weigh in on the de-escalation of tensions between the US and Iran.

Hopes for a peaceful resolution have weakened the USD, making risk-sensitive assets like the AUD more attractive to traders.

However, market participants remain cautious ahead of this week's Federal Reserve (Fed) monetary policy meeting, where investors will closely monitor any guidance on future interest rate moves.