The Australian Dollar (AUD) continues to decline for the second consecutive day against the US Dollar (USD) on Tuesday. The AUD/USD pair's weakness can be linked to tariff threats made by US President Donald Trump.
The risk-sensitive AUD also faced challenges amid increased risk aversion due to news on growing momentum among US President Donald Trump's advisers to place 25% tariffs on Mexico and Canada as soon as February 1.
President Trump announced plans on Monday evening to impose tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, and copper. The goal is to shift production to the United States (US) and bolster domestic manufacturing.
Source: Fxstreet
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