The Australian Dollar rises after weaker-than-expected US GDP data and reports of a potential Iran-US agreement boost risk appetite.
The Australian Dollar climbed 0.25% against the US Dollar on Thursday, trading at 0.7158 after rebounding from daily lows. The move followed reports of a potential deal between Iran and the US, lifting risk sentiment.
US economic data showed slower-than-expected growth, weighing on the USD. Analysts had anticipated stronger GDP figures, but the print fell short of consensus estimates.
The AUD/USD pair benefited from the combination of softer US data and geopolitical developments, reflecting improved market sentiment.