The AUD/USD pair rallied to near 0.6870 in Tuesday's North American session, producing a three-month high.
Australian Dollar reaches a three-month high of 0.6852 against the US Dollar on Tuesday. AUD/USD is supported by China's stimulus measures, a weaker USD, and positive global market sentiment. RBAheld rates steady and maintained its hawkish stance, further supporting the AUD. The AUD/USD pair rallied to near 0.6870 in Tuesday's North American session, producing a three-month high.
The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD.
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