Rising US Treasury yields and higher-than-expected JOLTS job openings weigh on risk sentiment, pressuring the Australian dollar.
The Australian dollar fell 0.45% to 0.6890 against the US dollar in European trading, underperforming major peers as risk appetite waned. The decline followed a 0.18% rise in 10-year US Treasury yields to 4.47%, extending Tuesday’s 2% surge.
US JOLTS job openings for May reached 7.594 million, exceeding estimates of 7.3 million and the prior 7.585 million. The data reinforced expectations of resilient labor demand, lifting bond yields and the US dollar index (DXY) by 0.15% to 101.33.
S&P 500 futures dropped 0.4% to 7,470, reflecting broader risk aversion. The AUD was the weakest performer among major currencies, with losses accelerating as yields climbed.