Australia's 10-year Treasury yields flirt with seven-year high with eyes on RBA

Australia’s benchmark 10-year Treasury yields seesaw around the highest levels since November 2014 as Aussie traders await the Reserve Bank of Australia’s (RBA) monetary policy meeting.

That said, the key bond coupon retreats to 3.30% by the press time of Tuesday’s Asian session, after refreshing the multi-month high with 3.33% levels marked the previous day.

While the RBA’s 0.15% rate hike is likely to help the Australian dollar, as well as the AUD/USD, an absence of Japanese traders and firmer US Treasury yields, may test the quote ahead of the US session. The AUD/USD prices remain positive, up 0.17% around 0.7065 at the latest.

Read: AUD/USD steadies around 0.7050 ahead of RBA, Yields look to reclaim 3%

It’s worth noting that the latest comments from global rating agency Fitch said, “Geopolitical tension and Australia's macroeconomy heighten credit risk.”