AUD/USD nears 74-cents
The Australian dollar is feeling the weight of the poor tone in global equity markets. The US plan to add to Chinese tariffs is hitting stock markets with the S&P 500 down 1.25%. Additional selling hit after the US open and that's pulled down AUD/USD.
The 35 pip decline to 0.7406 today doesn't erase Friday's gain to 0.7440 from 0.7380 but it leaves little support down to 0.7380/90 in the short term now that the June 20 high has given way.
