The AUD/USD pair trades in a tight range around 0.7175 during the European trading session on Monday.
The Aussie pair consolidates as uncertainty regarding the United States (US)-Iran negotiations toward a permanent peace deal has escalated
Financial market participants have turned slightly cautious towards the US-Iran peace deal finalization, following amendments from US President Donald Trump in the potential deal. Trump said in an interview with Fox News over the weekend that neither he wants Iran to develop nuclear weapons nor to purchase them. Trump added that negotiations with Iran remain ongoing and Washington is in no rush for a deal.
Meanwhile, the exchange of attacks between Israel and Lebanon has also raised concerns over the likelihood of an early deal. During the day, Iran’s Parliament Speaker Mohammad Bagher Ghalibaf has warned through a post on X that the United States (US) naval blockade on Iranian sea ports and Israeli attacks on Lebanon are clear evidence of US noncompliance with the ceasefire. On the domestic front, investors await the Q1 Gross Domestic Product (GDP) data, which will be released on Wednesday.