AUD/USD Sidles Near 0.6930 After Soft Australian Inflation
The Australian dollar traded cautiously sideways around 0.6930 on Monday as domestic inflation data showed further easing, while mixed US services figures kept the dollar broadly supported.
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The AUD/USD pair moved little on Monday, hovering near the 0.6930 mark in a cautious tone. The Australian Bureau of Statistics reported that inflation pressures continued to moderate, reinforcing expectations that the Reserve Bank may keep rates on hold.
Across the Atlantic, US services sector data came in mixed, providing some support for the US dollar but without triggering a strong directional move. The combination kept the pair range-bound as traders awaited further catalysts.
Source: FXStreet Forex News