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February 3, 2025

AUD/USD Hits Lowest Point Since Early 2020 Following Tariff News

The Australian dollar has plunged to its lowest level since early 2020, primarily due to recent tariff news from President Trump. These developments have rattled investor confidence across the board.

Market sentiment turned bearish after insights from Goldman Sachs indicated that tariffs on Canada and Mexico might not last long. However, immediate reactions led to a significant downturn.

As sectors like equity and commodities react to the news, traders will need to position accordingly. The Reserve Bank of Australia may face mounting pressure to consider rate cuts as economic indicators weaken.

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