AUD/USD Falls to 0.6470 as US Strikes on Iran Spark Risk-Off Flows

AUD/USD has slipped sharply to around 0.6470 following US self-defense strikes on southern Iran, reversing recent gains above 0.7150 fueled by ceasefire hopes. The pair had climbed on improved risk appetite and firmer commodities but reversed course amid renewed geopolitical tensions and safe-haven demand for the dollar. Earlier, soft April jobs data (-18.6k employment, 4.5% unemployment) had already reduced RBA June hike odds to just 4-6%, while hawkish FOMC minutes supported USD strength. Markets now focus on further escalation risks and their impact on oil prices and global sentiment.