The U.S. dollar has strengthened once again as investors grow concerned about the upcoming deadline for import tariffs on goods from Canada and Mexico, which had previously been postponed by one month.

Meanwhile, the U.S. has proposed an additional 10% tariff on Chinese imports, which may prompt China to implement countermeasures against U.S. goods. This could further escalate global trade tensions.

Regarding Australia's economic data, the Reserve Bank of Australia (RBA) has cut interest rates by 25 basis points to 4.10% in February. The central bank cited a continued decline in inflation and a slowdown in domestic economic growth as key reasons for the rate cut.

Source: Fxstreet