The Australian economy continues to face persistent pressure due to trade uncertainties between the United States and China, with a potential 10% increase in import tariffs looming.

However, the slower pace of interest rate cuts by the U.S. Federal Reserve and rising U.S. bond yields have consistently put pressure on the Australian dollar. This follows the release of additional U.S. economic data. Meanwhile, investors are awaiting Australia’s inflation data, which is set to be released on Wednesday.

Source: Fxstreet