Australian Dollar gains 0.28% against USD amid easing US-Iran tensions and improved market sentiment.
The Australian Dollar climbed 0.28% to 0.7018 against the US Dollar in European trading, outperforming major peers. Gains followed optimism over potential de-escalation between the US and Iran, boosting risk assets.
S&P 500 futures rose 0.45% to 7,477, while the US Dollar Index fell 0.11% to 100.89. Iran confirmed receiving a 10-day ceasefire proposal from mediators, easing geopolitical concerns. Investors now await Australia’s June employment data due Thursday.
The AUD was strongest against the Japanese Yen, reflecting broader risk-on sentiment. Markets expect the labor report to provide further direction for the currency.