AUD Weaksens as US Yields Rebound, PMI Data Falls Short

The Australian dollar has weakened against the US dollar, as US Treasury yields rebounded from recent lows.

This rebound in yields made the US dollar more attractive relative to the Australian dollar, which is sensitive to global risk sentiment and commodity prices.

The AUD/USD exchange rate was trading near 0.6620, down from its recent highs above 0.6700.

Investors also digested a wave of flash PMI data from major economies, including the US, Eurozone, and Australia.