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AUD/USD held steady at 0.6490, weighed down by a spike in U.S. Treasury yields and a strengthening U.S. economic outlook.
Australian and US manufacturing PMIs are not consistent, highlighting the starkly different economic conditions between the US and Australia.
The upcoming minutes of the Reserve Bank of Australia meeting and comments from central bank officials will provide signals on the trajectory of Australia’s monetary policy.
The Australian dollar fell 0.4% against the U.S. dollar on Monday, driven by improved business activity in the United States. However, AUD/USD was little changed as Tuesday’s Asian trading session began, trading at 0.6490, near one-week lows at the time of writing.
