Aussie plumbs three-month trough

Australian dollar sharpened its decline to a three-month low as gold prices gave up ground while US dollar steadied against a basket of major rivals before the Federal Reserve's meeting this week. 

Aussie was hurt by risk aversion in markets amid mounting tensions, with investors seeking safer havens, especially amid a lack of important Australian data this week. 

AUD/USD fell to 0.7704 from the opening of 0.7713, with a session-high at 0.7719, and a low at 0.7698. 

This week, the Reserve Bank of Australia will release the minutes of its meeting held two weeks ago, at which it held interest rates and monetary policy unchanged. 

US dollar is wavering ahead of the first Federal Reserve meeting under Chair Jerome Powell, with analysts expecting a 25 basis points interest rate hike, heaping more pressure on aussie.