AUD/USD Holds Above 0.7000 as US Dollar Weakens on Mixed Retail Data
The Australian dollar continues its recovery, trading near 0.7010 as the US dollar struggles for momentum after mixed US retail sales figures.
AUD/USD edged higher on Thursday, holding above the 0.7000 support level and trading around 0.7010. The pair extended its recent recovery as the US dollar lacked sustained upside momentum.
The US dollar softened after the release of mixed US retail sales data, which failed to provide clear direction for the greenback. Market participants are now assessing the implications for Federal Reserve policy.
The Australian dollar remains supported by improved risk appetite and expectations that the Reserve Bank of Australia may maintain a relatively hawkish stance compared to other central banks.
Source: FXStreet Forex News