The Australian dollar has retraced all its earlier losses, and is making a fresh session high and testing its overnight high
The response from China to the escalation in tariffs from President Trump has been low key and while I wouldn't say conciliatory, they have not indicated any retaliation
AUD:
I said earlier that the tariff announcement was well flagged and not to expect too much drop in the AUD, but when Trump added the statement that he'd escalate tariffs even further if China retaliated I thought there might have been more AUD fall to come.
Nope. Not yet anyway
