Australia: AUD Edges Lower.

The Australian dollar edged lower to around $0.652 on Tuesday, as investors continued to weigh ongoing geopolitical tensions. US President Donald Trump called for the evacuation of Tehran after Israel escalated its airstrikes on the Iranian capital, including attacks on state media facilities. These strikes occurred despite reports that Iran had been urgently signaling a desire to de-escalate and resume nuclear negotiations. In Australia, expectations are mounting for another interest rate cut in July, following two cash rate cuts earlier this year—moves welcomed by financially strained households still recovering from recent years of elevated inflation. A 25 bps cut at the RBA’s board meeting on July 8 would lower the cash rate to 3.60%, a level last seen in April 2023. In a shift toward greater transparency, the RBA will begin disclosing voting outcomes from its policy meetings—but only in cases where the decision is not unanimous.