AUD/USD slips below 0.7100 as Hormuz tensions support dollar
The Australian dollar eased from two-month highs on Tuesday as rising Strait of Hormuz tensions supported the US dollar, leaving AUD/USD just below 0.7100.
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AUD/USD traded slightly lower on Tuesday, slipping from the two-month highs reached previously and holding just below the 0.7100 level.
The pullback came as renewed tensions around the Strait of Hormuz lifted the US dollar, which drew support from safe-haven demand.
The Australian dollar was a touch softer on the day, with the pair’s near-term momentum fading after the recent push toward two-month highs.
Source: FXStreet Forex News