Forex
AUD Weakens to Four-Week Lows Amid Hawkish RBA Bias
The Australian Dollar (AUD) weakened in the first week of trading, bringing it close to the critical 0.7100 support level.
Despite some late US Dollar weakness that allowed for a slight recovery, AUD/USD still touched fresh four-week lows.
The Reserve Bank of Australia's (RBA) hawkish policy bias and strong domestic inflation have driven the currency upward since July.
Australia's economic growth has been slower but resilient, supported by domestic demand and positive economic indicators.