The AUD/USD currency pair rose to around 0.7040 during the Asian session on Thursday, boosted by a weaker US Dollar, according to FX Street. This marks an increase of nearly 0.40%, as the pair traded above the 0.7000 psychological level.
The Australian dollar’s gains come as the pair approaches the 100-day simple moving average near 0.7050, a technical level closely watched by traders. The US Dollar’s recent softness has provided support for the AUD, reflecting broader market sentiment during the session.
For Japanese investors, movements in the AUD/USD are relevant given the currency pair’s influence on regional trade and risk sentiment, which can impact the broader Asian FX and equities markets.