2333 GMT - AUD/USD has joined trade-sensitive currencies rallying in response to a Bloomberg report that members of Trump's economic team are considering slowly raising tariffs to avoid a spike in inflation. Whatever the merits of such an idea and while we may see a swift denial from Trump, markets seem eager to hear of any signs that Trump's advisers are presenting tariff proposals that are less aggressive than Trump's most extreme threats, says Sean Callow, currency Strategist at InTouch Capital Markets. If Trump does opt for a more measured or selective approach on tariffs, the Aussie stands to benefit more than most given its sensitivity to the global growth outlook, he adds. AUD/USD jumped from around 0.6162 to 0.6198 on the report. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
January 13, 2025 18:34 ET (23:34 GMT)
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