2118 GMT - AUD/USD stands to gain more than most if President Donald Trump pursues a more measured trade policy than feared, says Sean Callow, senior FX analyst at InTouch Capital Markets. The pair is sharply higher as Trump stopped short of rolling out executive orders announcing tariff increases. Currently, AUD/USD trades at 0.6270, up from around 0.6200 prior to Trump's inauguration speech. Near term it could spend some time above 0.6300. Still, the Reserve Bank of Australia's policy meeting in February will soon return to the forefront with Australia's 4Q CPI data due for release at the end of this month, he adds. Overall, the AUD/USD's bounce so far is probably best described as a sugar hit, Callow says. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
January 20, 2025 16:18 ET (21:18 GMT)
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