The Australian dollar edged lower against its U.S. counterpart on fears of more global tariffs.

Asia market update: Sanguine equity reaction to Trump tariff details as USD recovers some of last week’s losses; Light macro data until Wed night US Jan CPI and Fed’s Powell testimony.

The U.S. dollar strengthened against most other G-10 and Asian currencies in the morning session.

With the focus on the White House, there’s scope for more worrying news around trade tensions producing a risk-off tone that could see AUD/USD test support around 0.6200. CBA said.

The AUD/USD price analysis indicates stronger demand in Australia, with household spending rising in December.

The AUD/USD fell on Tuesday as the dollar strengthened, driven by investors reacting to abrupt shifts in U.S. trade policy.

Reuters is reporting that China has announced a package of tariffs on a range of US products in an immediate response to a 10 per cent tariff on Chinese imports announced by US President Donald Trump.

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