AUD/USD trades steadily around 0.6500 as Trump-Zelenskyy meet takes centre stage

AUD/USD wobbles around 0.6500 as investors await Trump-Zelenskyy meeting at the White House.
US President Trump stated that Ukrainian President Zelenskyy could end war with Russia.
Investors expect the Fed to cut interest rates in September.

Sagar Dua FXStreet

The AUD/USD pair trades broadly stable around 0.6500 during the European trading session on Monday. The Aussie pair consolidates as investors await the meeting between United States (US) President Donald Trump and Ukrainian President Volodymyr at the White House during the day.

Ahead of the meeting, US President Trump has stated in a post on Truth.Social that Ukrainian President Zelenskiy could end war with Russia if he dropped his ambitions of claiming Russian-occupied region of Crimea and NATO membership.

“President Zelenskyy of Ukraine can end the war with Russia almost immediately, if he wants to, or he can continue to fight. Remember how it started. No getting back Obama given Crimea (12 years ago, without a shot being fired!), and NO GOING INTO NATO BY UKRAINE. Some things never change!!!,” Trump wrote.

An absence of positive outcome from Trump-Zelenskyy meet is unlikely to impact the appeal of risk-perceived assets as the war has already been discounted by investors.

Meanwhile, the US Dollar (USD) struggles to gain ground as traders remain confident that the Federal Reserve (Fed) will reduce interest rates in the policy meeting in September. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, looks for firm-footing near an almost three-week low around 97.70.

This week, investors will pay close attention to the Jackson Hole Symposium, which is scheduled for August 21-23.

Economic Indicator

Jackson Hole Symposium

The Jackson Hole Economic Policy Symposium is an annual symposium sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyoming, since 1981. It is a forum for central bankers, policy experts and academics to come together to focus on a topic.

GBP/USD extends the drop to 1.3360

GBP/USD builds on Monday’s decline and briefly clinches five-day lows near 1.3360 on Tuesday. Cable’s extra pullback follows the better tone in the Greenback as uncertainty in the Middle East prompts investors to adopt a cautious stance. Meanwhile, an apathetic UK labour market report also collaborates with the selling pressure on the British Pound.

EUR/USD looks inconclusive near 1.1420

EUR/USD trades in a tight range in the low 1.1400s on Tuesday, struggling to gain momentum amid an equally absence of clear direction in the US Dollar (USD). Uncertainty surrounding the US-Iran conflict is capping the pair’s upside, while traders avoid taking significant positions ahead of Thursday’s ECB gathering.

Gold shows signs of life; focus is back to $4,100

Gold gains ground on Tuesday, reversing Monday’s pessimism and advancing toward the $4,100 mark per troy ounce. Nevertheless, uncertainty surrounding the Middle East conflict and rising expectations for a hawkish Fed policy outlook are expected to limit the precious metal’s bullish momentum in the near term.

XRP extends recovery as on-chain activity grows

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

The Iranian war has again risen

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US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.