AUD USD is slipping after hitting a five-month high of 0.6493 on Monday. Currently, it trades around 0.6450 during the Asian session on Tuesday. This pullback highlights a strengthening US Dollar as traders prepare for the Federal Reserve’s monetary policy decision coming up on Wednesday.

Market sentiment seems cautious as investors await central bank signals, particularly amid speculation around interest rate adjustments. Traders should monitor the Fed’s statement closely, as it may impact currency fluctuations significantly.