AUD Tumbles Below 0.6500 as Strong US Data Reignites Hawkish Fed Bets

The Australian Dollar has fallen below the 0.6500 mark against the US Dollar due to strong US economic data, which is fueling expectations that the Federal Reserve will maintain a tight monetary policy stance.

Recent US retail sales and industrial production figures have been stronger than expected, suggesting that the US economy remains resilient and may not require immediate rate cuts from the Fed.

This has boosted demand for the US Dollar, putting downward pressure on commodity-linked currencies like the Australian Dollar.