Aussie Dollar Extends Decline to 11-Week Low

2026-06-23 00:59 By Joshua Ferrer 1 min. read

The Australian dollar slipped further below $0.70, hitting an eleven-week low as the US dollar continued to advance, while caution built ahead of domestic inflation and jobs data this week that could indicate whether the Reserve Bank has finished raising rates.

Headline inflation is expected to pick up to 4.4% in May from 4.2% from a month earlier, while core measure likely edged up to 3.5% from 3.4%, both well above the central bank’s target.

Deputy Governor Andrew Hauser is expected to speak about the inflation outlook after the CPI release.

For the employment data, a rise of 25,000 net jobs for May is expected, while the unemployment rate likely fell to 4.4% after hitting a 4 1/2 -year high of 4.5% last month.

Meanwhile, the greenback strengthened further as markets continue to anticipate that the Fed will raise rates this year after a hawkish tone from officials.

Elsewhere, the risk-sensitive Aussie found support from signs of initial progress in ongoing US-Iran peace negotiations.



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