RBA Hawkishness and US Dollar Weakness Lift AUD/USD Toward 0.7100
The AUD/USD pair reached a nearly four-week high during the Asian session on Tuesday, trading just below 0.7100. This move is supported by a hawkish stance from the Reserve Bank of Australia. The US Dollar has touched a fresh low since early March, driven by hopes for continued Iran diplomacy and uncertainty over the Federal Reserve's future interest rate moves. These factors undermine the USD and act as a tailwind for the AUD/USD pair.
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