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fxAug 3, 2026, 10:30 PM

Australian Dollar Slides to 0.7000 as US ISM PMI Revives Dollar

The Australian dollar pulled back to the 0.7000 handle against the US dollar despite a risk-on mood, as upbeat US ISM PMI data and easing Middle East tensions bolstered the greenback.

AUDUSD

The Australian dollar retreated to the 0.7000 level against the US dollar, giving up earlier gains as the greenback strengthened. The reversal came despite an overall risk-on market tone, with the US currency recovering on the back of positive economic data and reduced geopolitical tensions in the Middle East.

The key driver cited was the US ISM PMI release, which revived demand for the dollar. AUD/USD had touched a higher daily level before pulling back to trade near 0.7000.

Source: FXStreet Forex News