AUD/USD trades up 0.50% on improving risk sentiment
The Australian Dollar is climbing as hopes for an Iran deal lift market sentiment. The AUD/USD pair is trading around 0.7035, supported by a potential agreement to reopen the Strait of Hormuz.
The improvement in risk sentiment is also driven by encouraging domestic data, including a 2% rise in ANZ-Indeed Job Ads and a 1% rebound in the TD-MI Inflation Gauge.
The Reserve Bank of Australia’s stance on monetary policy remains restrictive, with Governor Michele Bullock warning of accelerating price pressures due to previous energy market disruptions.