The US dollar has rapidly strengthened after President Donald Trump announced that the United States would impose tariffs on imports from Mexico, China, Europe, and Canada.

The Reserve Bank of Australia (RBA) has maintained its interest rate at 4.35%, underscoring its commitment to controlling inflation while acknowledging the challenges posed by a slowing economic growth. Governor Michele Bullock emphasized that tight monetary policy will remain in place until inflation improves consistently and sustainably.

Meanwhile, Australia's key export commodities, such as copper and iron ore, continue to show weak demand. This reflects the effectiveness of China’s economic stimulus measures, given its status as a major trading partner.

Source: Fxstreet