The Australian dollar remains near June highs, supported by geopolitical tensions and steady demand ahead of expected sanctions.
The AUD/USD pair holds above 0.7150, extending a consolidative phase near its highest level since early June. The currency has maintained mid-0.7100s support through early European trading, reflecting cautious optimism among investors.
The pair last touched these levels on Friday, with market participants weighing the impact of upcoming Iran sanctions. Broader risk sentiment and commodity price movements have also contributed to the Australian dollar’s resilience.
No immediate market reaction has been observed, as traders await further developments on geopolitical and economic fronts.