FX.co ★ Australian Dollar Falls Amid Strengthening Greenback

The Australian dollar fell below $0.643 on Monday, reaching its lowest point in over three weeks, as the US dollar strengthened amid rising geopolitical tensions. This appreciation of the greenback followed US military strikes on three key Iranian nuclear sites over the weekend, with President Donald Trump warning of further measures if Tehran does not seek peace. Despite these external challenges, Australia's economic indicators demonstrated resilience. Preliminary data for June showed an increase in private sector activity to 51.2 from 50.5 in the previous month, marking nine consecutive months of growth and the second-fastest pace in the last ten months. The Manufacturing PMI remained steady at 51, while the Services PMI rose to a three-month high of 51.3 from 50.6 in May. Investors now await the release of the monthly Consumer Price Index (CPI) for May, scheduled for later this week, to gain insights into the Reserve Bank of Australia's policy direction.