The pair climbs 0.43% to 0.7118 as the US Dollar Index drops to its lowest since late May, supported by RBA rate hike expectations.
AUD/USD trades near a two-and-a-half-month high, up 0.43% at 0.7118, driven by broad US Dollar weakness. The US Dollar Index (DXY) fell 0.75% to 98.90, its lowest level since May 29, bolstering the pair’s gains.
Strategists expect further upside, citing November RBA rate hike risks and a Fed likely to avoid tightening this year. Australia’s July employment report, due Thursday, may add direction, with 15K jobs forecast after June’s 76.3K gain.
Technical indicators remain bullish, with spot above key moving averages and RSI near 65, signaling sustained momentum without overbought conditions.