0423 GMT - AUD/USD is down around 0.7% so far in Asia amid the share rout generated by the emergence of the Chinese Ai startup DeepSeek coupled with more rumblings about the potential reach internationally of U.S. tariffs, and it is not alone, says Kristina Clifton, currency strategist at CBA. The USD index is up by just over 0.5% in Asia, she adds. The chunky fall in U.S. equities and the latest tariff headlines are supporting the safe haven USD and weighing on the risk sensitive AUD/USD, she says. It will be a volatile week for AUD/USD with ongoing tariff headlines, the Australian 4Q24 CPI and FOMC interest rate decisions, Clifton adds. AUD/USD is now at 0.6246, down from 0.6314 late last week. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
January 27, 2025 23:23 ET (04:23 GMT)
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