AUD Tumbles to 0.70 as US ISM PMI Revives Demand for Greenback

The Australian Dollar tumbled to 0.70 against the US Dollar on [date] due to strong US ISM Manufacturing PMI data, which bolstered demand for the greenback and reversed some of the Aussie's recent gains.

The US ISM Manufacturing PMI came in at [actual value], beating market forecasts of [forecast value]. This upbeat data reinforced expectations that the Federal Reserve may keep interest rates higher for longer, supporting the US Dollar across the board.

In contrast, the Australian Dollar faced headwinds from weaker commodity prices and a less hawkish RBA outlook, which added to the downward pressure on the currency pair.