The Australian dollar slipped below $0.63 on Friday, reversing gains from the previous session as new US tariffs are set to take effect next week, heightening global trade tensions.
Markets also turned their attention to the Reserve Bank of Australia’s policy decision next week, where the central bank is widely expected to hold interest rates steady at 4.1%.
Current expectations indicate no rate cut until at least July.
Meanwhile, Prime Minister Anthony Albanese announced a national election for May 3, kicking off a five-week campaign centered on tax cuts and cost-of-living relief.
On the economic front, Australia’s monthly CPI indicator eased to a three-month low of 2.4% in February, defying expectations for no change from January’s 2.5% reading.
