{
  "id": 61632,
  "title": "Australian Dollar gathers strength to near 0.7050 as Trump cancels Iran strikes",
  "url": "https://urgent.news/2026/08/02/australian-dollar-gathers-strength-to-near-0-7050-as-trump-cancels",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-02T23:32:20.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/australian-dollar-gathers-strength-to-near-07050-as-trump-cancels-iran-strikes-202608022332"
  },
  "original_language": "en",
  "account": "The Australian Dollar (AUD) gains strength against the US Dollar (USD), reaching near 0.7040 during early Asian trading on Monday. This increase in the AUD's value is attributed to a shift in risk sentiment following reports that US President Donald Trump has cancelled planned military strikes against Iran. Traders are now watching for the release of China's Purchasing Managers Index (PMI) report, which is expected later in the day. According to Bloomberg, Trump reportedly cancelled the strikes due to his belief that a deal on Iran's nuclear program was near and to address concerns from Iran and other regional countries. He announced this on his social media platform, Truth Social, on Saturday. Traders will be closely monitoring the situation as any positive developments between Iran and the US could provide support to riskier assets, including the Australian Dollar. However, there remains high uncertainty due to the ongoing tensions in the Middle East, which could lead to increased safe-haven flows and support for the US Dollar, potentially exerting a downward pressure on the AUD. The Reserve Bank of Australia (RBA) has expressed a hawkish stance, indicating a likelihood of a further rate hike this year, bringing the Official Cash Rate (OCR) to 4.6%. This hawkish tone has prompted markets to anticipate another rate hike, with RBA Governor Michele Bullock stating that the Board is prepared to act if necessary to achieve its mandate. Analysts at BNY have highlighted that RBA Assistant Governor Sarah Hunter has reiterated the need for the RBA to maintain a restrictive stance, emphasizing that inflation is still above the 2-3% target band and that higher inflation expectations should not become entrenched. The level of interest rates set by the RBA is a crucial factor influencing the Australian Dollar. As a resource-rich country, Australia's export of iron ore also plays a significant role, with the health of China, its largest trading partner, being another key driver. The Trade Balance, which measures the difference between what a country exports and imports, and the overall health of the Chinese economy can also impact the Australian Dollar's value.",
  "summary": "The AUD/USD pair gains ground to near 0.7040 during the early Asian session on Monday. The Australian Dollar (AUD) strengthens against the US Dollar (USD) on improved risk sentiment after the reports that US President Donald Trump holds off Iran strikes.",
  "key_points": [
    "Australian Dollar strengthens to near 0.7050 against US Dollar",
    "US President Trump cancels planned military strikes against Iran",
    "RBA maintains hawkish stance, anticipates further rate hike"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 11,
    "also_reported_by": [
      {
        "outlet": "Al-Monitor",
        "title": "Trump says US will hold off on fresh Iran attack in hope of quick deal",
        "url": "https://urgent.news/2026/08/01/trump-says-us-will-hold-off-on-fresh-iran-attack-in-hope-of-quick-deal",
        "published": "2026-08-01T22:46:38.000Z"
      },
      {
        "outlet": "CBS News",
        "title": "Trump admin. touts its transparency. Yet few Iran war details have been shared.",
        "url": "https://urgent.news/2026/08/02/trump-admin-touts-its-transparency-yet-few-iran-war-details-have-been",
        "published": "2026-08-02T16:15:39.000Z"
      },
      {
        "outlet": "Jerusalem Post",
        "title": "Israel was meant to join major US attack on Iran before Trump decided to call it off - report",
        "url": "https://urgent.news/2026/08/02/israel-was-meant-to-join-major-us-attack-on-iran-before-trump-decided",
        "published": "2026-08-02T19:52:59.000Z"
      },
      {
        "outlet": "Fortune",
        "title": "Here’s how Trump has zig zagged with on-again, off-again strikes throughout the Iran war",
        "url": "https://urgent.news/2026/08/02/heres-how-trump-has-zig-zagged-with-on-again-off-again-strikes",
        "published": "2026-08-02T21:35:29.000Z"
      },
      {
        "outlet": "France 24",
        "title": "Live: Trump says new talks with Iran to begin Monday after calling off strikes",
        "url": "https://urgent.news/2026/08/02/live-trump-says-new-talks-with-iran-to-begin-monday-after-calling-off",
        "published": "2026-08-02T22:11:19.000Z"
      },
      {
        "outlet": "Middle East Eye",
        "title": "Trump says new talks with Iran to begin Monday after calling off strikes",
        "url": "https://urgent.news/2026/08/02/trump-says-new-talks-with-iran-to-begin-monday-after-calling-off",
        "published": "2026-08-02T22:30:50.000Z"
      },
      {
        "outlet": "Semafor",
        "title": "Trump calls off Iran strikes",
        "url": "https://urgent.news/2026/08/02/trump-calls-off-iran-strikes",
        "published": "2026-08-02T22:35:09.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Trump says new Iran talks to begin Monday after calling off strikes",
        "url": "https://urgent.news/2026/08/02/trump-says-new-iran-talks-to-begin-monday-after-calling-off-strikes",
        "published": "2026-08-02T23:06:00.000Z"
      },
      {
        "outlet": "South China Morning Post",
        "title": "Trump says new talks with Iran to begin on Monday after calling off strikes",
        "url": "https://urgent.news/2026/08/02/trump-says-new-talks-with-iran-to-begin-on-monday-after-calling-off",
        "published": "2026-08-02T23:16:06.000Z"
      },
      {
        "outlet": "Live Mint",
        "title": "US-Iran war news LIVE: Iran talks to take place on Monday, says Trump as he refuses to set a deadline for a peace deal",
        "url": "https://urgent.news/2026/08/03/us-iran-war-news-live-iran-talks-to-take-place-on-monday-says-trump",
        "published": "2026-08-03T00:10:40.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}