AUD/USD edges higher on Friday, climbing to its highest level since June 3 as the Australian Dollar (AUD) outperforms all its major peers. A broadly weaker US Dollar (USD), strength across the commodity complex led by rising Gold (XAU/USD) prices, and the Reserve Bank of Australia’s (RBA) hawkish policy stance boost the commodity-linked Aussie.
At the time of writing, AUD/USD trades around 0.7167, up 0.77% on the day and on track for an eighth consecutive weekly gain. The intraday advance comes even as the US Dollar shows signs of stabilizing after its recent weakness. The US Dollar Index (DXY), which tracks the Greenback against a basket of…
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