AUD/USD climbs past 0.7000 as Iran deal hopes boost risk appetite
The Australian dollar rose above the 0.7000 mark on Tuesday, supported by improved risk sentiment after US Treasury Secretary Scott Bessent flagged a possible deal with Iran on the Strait of Hormuz.
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The Australian dollar gained ground on Tuesday, with AUD/USD trading around 0.7035, up 0.5% on the day.
Risk appetite improved after US Treasury Secretary Scott Bessent said an agreement with Iran to reopen the Strait of Hormuz could be reached as soon as Tuesday. The prospect of reduced geopolitical friction in the vital shipping lane lifted investor sentiment, providing a tailwind for the risk-sensitive currency.
Source: FXStreet Forex News