Philip Lowe, the Governor of the Reserve Bank of Australia has buoyed the AUD on Monday, discarding that the recent strength of the currency might pose a problem to the economy. Lowe has also assured that Australia has "a fantastic set of underlying fundamentals" and that therefore, the economic impact of the COVID-19 pandemic will not be as bad as expected.
This has fuelled AUD demand further which has also been favoured by US dollar weakness. The decline of US treasury yields, with the 10-year bonds down nearly 3% on the day has weighed on the dollar, which went south against its main peers.