Australian dollar slips toward 0.7000 as Fed bets lift US dollar
AUD/USD weakened to near 0.7010 in early Asian trading Monday as rising Treasury yields and hawkish Federal Reserve expectations supported the dollar, with the RBA rate decision in focus.
AUDUSD
The Australian dollar lost ground against the US dollar in early Asian trading on Monday, with AUD/USD trading near 0.7010 after softening toward the 0.7000 area.
The US dollar drew support from rising US Treasury yields and increased expectations for further Federal Reserve interest rate moves. That combination weighed on the Australian dollar.
Attention now turns to the upcoming Reserve Bank of Australia rate decision, which could set the next direction for the pair.
Source: FXStreet Forex News