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Australian dollar gets comfortable on the 0.72-handle

May 11 2026 4 mins

The Australian dollar pushed to fresh four‑year highs last week, topping out at USD 0.7278, as another wave of optimism around the US-Iran war took hold. The RBA effectively signalled a pause when they hiked last week and US April payrolls beat expectations, but neither proved a drag. Nor has the US rejection of Iran’s counter‑offer at the start of this week. The Australian dollar is beginning to develop a degree of familiarity at these higher levels just above 0.72. The week ahead is busy and important, featuring the Federal Budget, Q1 Wage Price Index and US April CPI. Markets will also closely monitor the Trump–Xi summit in Beijing.

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