The AUD/USD pair turns lower following a modest Asian session uptick on Tuesday, awaiting a break below the 0.7100 mark before extending the previous day’s retracement from the highest level since June 5.
The US Dollar (USD) gains some positive traction and recovers further from a two-month low, touched on Monday, as inflation jitters stemming from higher oil prices keep bets for at least one interest rate hike by the US Federal Reserve (Fed) on the table. Apart from this, the US-Iran standoff keeps the geopolitical risk premium in play and turns out to be another factor supporting the safe-haven Greenback, which, in turn, is seen acting as a…
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