The Australian dollar (AUD) strengthened against the US dollar (USD) on Tuesday (6/24), extending its gains for the second straight session. The AUD/USD pair strengthened after US President Donald Trump said a ceasefire had been agreed between Iran and Israel. Trump said that a "complete and total" ceasefire between Israel and Iran would be in place to end the conflict between the two countries.
Iran fired missiles at Al Udeid Air Base in Qatar on Monday. Qatari officials said the missiles were intercepted and the base had been evacuated in advance. Trump announced Saturday night that he had "obliterated" three Iranian nuclear facilities, including Fordow, Natanz, and Isfahan, in overnight strikes. Iran's parliament approved a measure to close the Strait of Hormuz.
The latest upbeat S&P Global Purchasing Managers' Index (PMI) data revealed that Australia's private sector grew at its second-fastest pace in ten months, dampening expectations of a near-term interest rate cut by the Reserve Bank of Australia (RBA). (alg)
Source: FXstreet
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