The AUD/USD pair gains ground to near 0.6445 during the early Asian session on Friday. The US Dollar (USD) edges lower against the Australian Dollar (AUD) due to the resurgence of trade uncertainty and disappointing US economic data. The US April Personal Consumption Expenditures (PCE) Price Index report Will be in the spotlight later on Friday.
A US federal court on Wednesday blocked US President Donald Trump's "Liberation Day" tariffs from going into effect. A federal trade court ruled Trump didn't have the authority to impose across-the-board duties on imports from nations that sell more to the US than they buy.
However, a federal appeals court late Thursday temporarily paused a sweeping ruling against Trump's global tariffs while it takes more time to consider the administration's request for a longer-lasting hold. The uncertainty of Trump's policies and concerns that tariffs will slow the economy drag the Greenback lower and create a tailwind for the pair.
Source: FXStreet
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