The Australian dollar weakened against other major currencies in the Asian session on Monday, as traders remain cautious amid the uncertainty prevailing around the peace talks between the U.S. and Iran. Tensions in the Middle East escalated over the weekend with Iran reportedly not ready for new face-to-face talks with the U.S., citing maximalist demands.
Tehran also again closed the Strait of Hormuz because of the U.S.'s ongoing blockade of its ports. It had declared the Strait of Hormuz completely open to commercial traffic on the heels of the 10-day ceasefire between Israel and Lebanon.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.