The Australian dollar fell to around $0.711, touching a two-week low and on track for a weekly drop of roughly 1%, as an ongoing stalemate in Middle East tensions weighed on risk appetite, while the Reserve Bank signaled a wait-and-see approach. The central bank has already delivered three hikes this year, and Governor Michele Bullock said the rate increases are starting to filter through the economy. However, she reiterated that inflation remains elevated and policymakers will remain alert to persistent price pressures. Markets expect the RBA to stand pat in June, with about a 50% odds of another hike in August and full pricing for a move by December. Investors now watch any shift in tone as Deputy Governor Andrew Hauser is due to speak later today, although expectations are he will reinforce a steady policy stance. Broader sentiment was further hit by a fragile US-Iran ceasefire, reports of stalled negotiations, and a pullback in AI-linked trades, weighing on the risk-sensitive AUD.
The AUD/USD exchange rate fell to 0.7041 on June 5, 2026, down 1.31% from the previous session. Over the past month, the Australian Dollar has weakened 2.71%, but it's up by 8.47% over the last 12 months. Historically, the Australian Dollar reached an all time high of 1.49 in December of 1973. Australian Dollar - data, forecasts, historical chart - was last updated on June 7 of 2026.
The AUD/USD exchange rate fell to 0.7041 on June 5, 2026, down 1.31% from the previous session. Over the past month, the Australian Dollar has weakened 2.71%, but it's up by 8.47% over the last 12 months. The Australian Dollar is expected to trade at 0.71 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.72 in 12 months time.