Australian Dollar Hits 6-Month High
The Australian dollar advanced past the $0.65 mark on Monday, marking a six-month peak, as the US dollar lost ground amid increasing skepticism about President Donald Trump's trade policies. Investor confidence in US prospects was rattled following Trump's threat of imposing a 50% tariff on the European Union, a move he later postponed. Additionally, his warning of a potential 25% tariff on iPhones sold in the US but manufactured abroad added to fears surrounding policy instability. Domestically, focus shifts to the forthcoming Australian inflation figures, which will influence market expectations for the Reserve Bank of Australia's policy direction. Last week, as predicted, the RBA lowered its cash rate to 3.85%, indicating a dovish approach in light of mounting economic challenges and waning inflation pressures.
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