AUD/USD Transfer
The Australian Dollar (AUD) hasn’t escaped yesterday’s market swings in the aftermath of Trump’s “liberation day” speech, the currency moving from 0.6280 to 0.6225 and through to 0.6390 against the US Dollar (USD) late last night. NY session woes have seen US Equities take huge hits- the Nasdaq down around 6.0% shifted the cross back to 0.6320 at the NY session close. In the RBA Financial Stability Review (FSR) the RBA warned that US tariffs could have a “chilling” effect on investment and consumer spending. Taking into consideration the additional 34% tariff on top of the 20% already imposed on Chinese imports this could set the stage for serious headwinds for the AUD as a potential global trade war begins.
The current interbank midrate is: AUDUSD 0.6324
The interbank range this week has been: AUDUSD 0.6217- 0.6388
