AUD/USD Rises Above 0.7020 as US-Iran Hopes Lift Sentiment
The Australian dollar gained ground on Tuesday, climbing past 0.7020 against the greenback as reports of a potential US-Iran breakthrough boosted risk appetite.
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The AUD/USD pair advanced during early European trading on Tuesday, reaching around 0.7020. The move higher came amid easing tensions in the Middle East, as hopes of a breakthrough between the US and Iran improved overall market sentiment.
The improvement in risk appetite provided a tailwind for the risk-sensitive Australian dollar, while the US dollar faced mild headwinds.
The pair held above the 0.7000 handle, recovering from recent lows as traders reassessed geopolitical risks.
Source: FXStreet Forex News