The Australian dollar rose to around 0.646 on Monday, supported by a weakening greenback amid investor concerns over US President Donald Trump's tariff measures.
On Friday, Trump announced plans to double tariffs on steel and aluminum imports from 25% to 50% effective June 4. The announcement, along with escalating US–China trade tensions, deepened investor anxiety over slowing growth and mounting inflationary pressures.
In Australia, data showed the manufacturing sector weakened for the second consecutive month in May, falling to its lowest level since February a sign of slowing industrial activity.
Additionally, retail sales unexpectedly declined in April, highlighting growing consumer caution. These data points reinforced expectations of continued monetary policy easing by the Reserve Bank of Australia.
Source: trading Economi
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