The Australian Dollar declines for a sixth straight session as PMI improvement fails to lift sentiment amid broader USD strength.
The Australian Dollar extended its losing streak, with AUD/USD falling to around 0.6980 in Asian trading on Tuesday. The decline marks the sixth consecutive session of losses despite stronger-than-expected preliminary S&P Global Purchasing Managers Index data for Australia.
The PMI figures indicated an improvement in business activity, but the currency pair remained under pressure. Prior sessions saw AUD/USD trading near 0.7000, with recent losses reflecting broader USD resilience and shifting risk sentiment.
No immediate market reaction was specified, though the persistent downtrend suggests sustained selling interest in the pair.