AUD Weakens Amid Rebounding US Yields

The Australian Dollar (AUD) weakened against the US Dollar on Thursday as bond yields rebounded from their lows following the US Treasury's announcement of a long-end bond buyback program.

The AUD/USD pair retreated to 0.7114, down 0.14% from its previous close, as the US 30-year yield rose back to 5.25%, offsetting support from resilient Australian PMIs.

Australia's S&P Global Manufacturing PMI remained steady at 52 in August, while the Services PMI decelerated from 53.6 to 52.9.