Australian Dollar Holds Firm Near Ten-Week High Amid RBA Caution

The Australian dollar has remained firm near a ten-week high despite falling below $0.71. Investors are weighing the Reserve Bank of Australia's latest remarks and soft quarterly wages data.

Australian wages rose at a moderate pace for a fifth straight quarter in the June quarter, but annual growth in the private sector slowed to its lowest level in four years. This could ease some pressure on the RBA to tighten policy.

Deputy Governor Andrew Hauser warned that the central bank may need to raise rates again if upside inflation risks crystallize, citing key risks such as the Middle East conflict and weak productivity.