The Australian Dollar climbs as US debt concerns pressure the USD, marking a weekly decline for the greenback.
The AUD/USD pair advanced to 0.7135 during Asian trading on Friday, extending gains above the 0.7100 level. The US Dollar faces downward pressure amid growing skepticism over the US Treasury’s bond buyback strategy, viewed as a short-term fix rather than a sustainable solution.
Earlier this week, the USD showed signs of strain as traders reassessed debt management policies. The Australian Dollar has benefited from the greenback’s retreat, consolidating its position after a volatile session.
Markets remain cautious as concerns over US fiscal stability persist, with the USD poised for its first weekly loss in recent sessions.