AUD/USD Falls to One-and-a-Half-Week Low Amid US Inflation Fears and Geopolitical Tensions

The AUD/USD pair fell to a one-and-a-half-week low of around 0.7140 during Monday's Asian session but failed to maintain momentum.

The pair currently trades just above mid-0.7100s, down nearly 0.25% for the day.

The US inflation figures released last week reaffirmed market bets for an imminent interest rate hike by the US Federal Reserve later this week.

Rising geopolitical tensions between the US and Iran also contributed to the safe-haven US Dollar's strength, weighing on the AUD/USD pair.

However, hawkish expectations from the Reserve Bank of Australia helped limit the downside for the Aussie.