AUD/USD Extends Decline to Third Day Near 0.6870

The Australian dollar (AUD) continued its slide against the US dollar (USD) on Tuesday, extending the losing streak to three sessions. AUD/USD was trading near 0.6870 during Asian hours.

Downward pressure on the Aussie stems from growing hawkish sentiment surrounding the Federal Reserve's monetary policy stance, which has been supporting the greenback. Traders are now awaiting the release of the Reserve Bank of Australia’s meeting minutes as well as China’s Purchasing Managers’ Index (PMI) data for further directional cues.

Both events are closely watched given Australia’s strong trade ties with China and the RBA’s recent policy decisions.