The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, with over 1% losses. The AUD/USD pair depreciates due to escalating tensions in the Middle East.
Israeli Minister of Defense Israel Katz warned his country to face a missile and drone attack following Israel's preemptive attack on Iran. Katz declared a special state of emergency in the country, per Axios. Israeli military officials said that Israel attacked dozens of sites across Iran, as the Iranian nuclear program is an existential threat to Israel.
Reuters reported that US President Donald Trump expanded steel tariffs starting June 23 on imported "steel derivative products" including household appliances, including dishwashers, washing machines, refrigerators, etc. The tariffs were initially imposed at 25% in March and later doubled to 50% for most countries. This is the second time the scope of affected products has been expanded.
Source: FXStreet
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