Australian Dollar Edges Higher on Soft US Data, Risk-On Mood
AUD/USD rose to around 0.7060 as weaker US economic figures and improved risk appetite weighed on the greenback.
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The Australian dollar advanced against the US dollar on Wednesday, with AUD/USD trading near 0.7060, up 0.20% for the day. The move came as the greenback faced broad selling pressure after softer-than-expected US economic releases dampened demand for the safe-haven currency.
Meanwhile, a shift toward improved risk sentiment, tied to easing geopolitical concerns, further buoyed the risk-sensitive Aussie.
Source: FXStreet Forex News