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fxOct 12, 2026, 11:47 PM

Aussie Dollar Retreats Below 0.70 as Oil Shock Lifts US Dollar

The Australian dollar lost roughly 0.40% on Monday against a stronger US dollar, with AUD/USD trading near 0.6950 after failing to hold the 0.70 level.

AUDUSD

The Australian dollar closed Monday with a loss of roughly 0.40% against the US dollar, leaving AUD/USD near 0.6950 after an earlier push toward the 0.70 handle stalled.

Liquidity was thin because US cash markets were closed for the Columbus Day holiday, leaving traders to focus on geopolitical developments and an oil-price shock that supported the US dollar.

The pair remains on the defensive below 0.70 following the holiday-thinned session, with the greenback benefiting from the latest market drivers.

Source: FXStreet Forex News