The Australian dollar gains as US private-sector jobs growth misses forecasts and services PMI employment index contracts.
AUD/USD climbed 0.20% to 0.7060 on Wednesday, supported by broad US dollar weakness. The US Dollar Index (DXY) fell 0.16% to 99.70 as softer economic data weighed on sentiment.
US private-sector employment rose by 44K jobs in July, below the 70K forecast and down from 98K in June. The ISM Services PMI dipped to 54.1, with its employment index dropping to 47.4, signaling weaker hiring conditions.
Geopolitical developments, including the US lifting selected Iran-related sanctions, also pressured the USD. Meanwhile, the AUD found support amid improving risk sentiment.