The Australian Dollar retreats from Wednesday’s gains despite a rally in oil, as the US Dollar strengthens broadly.
The AUD/USD pair fell 0.36% to trade above the 0.7000 level, erasing gains from the previous session. The decline comes as the US Dollar Index (DXY) rose 0.28%, approaching the 100.00 mark, driven by broader USD strength.
Earlier, the Australian Dollar had climbed on Wednesday but failed to sustain momentum amid a lack of support from rising oil prices. The pair remains above key psychological support but faces pressure from a firmer USD.
No immediate market reaction was noted beyond the intraday move, though traders continue to monitor USD dynamics and commodity trends.