The Australian dollar held its recent decline to around $0.694, moving back toward three-month lows as renewed US-Iran tensions dampened global risk sentiment. Traders flocked to the safe-haven US dollar, while oil prices jumped after the US launched a fresh wave of strikes against Iran and revoked a license allowing the country to sell oil following attacks on tankers in the Strait of Hormuz, fueling concerns over renewed disruptions in energy supplies. In Australia, markets continued to expect the Reserve Bank to keep its cash rate unchanged at 4.35% in August after delivering three rate hikes this year. The odds of another rise has also eased, with a November hike now priced at around 40%. Still, the country’s major banks said the RBA June minutes highlighted enduring inflationary pressures and warned they reinforced the risk of another hike in the months ahead. Investors now await remarks from RBA Assistant Governor Sarah Hunter later today for further clues on the policy outlook.