AUD falls 0.5% near 0.7100 against USD
The Australian Dollar has slumped over 0.5% to near 0.7100 during the Asian trading session.
The decline is attributed to risk-off market sentiment and diminished hawkish Reserve Bank of Australia bets.
Market sentiment has turned favorable for safe-haven assets due to increased tensions between the US and Iran, with the US Dollar Index trading 0.3% higher above 99.50.
S&P 500 futures and major Asian stock markets are also down, indicating a significant dent in investors’ risk appetite.