FX.co ★ Australian Dollar Hits 4-Month High

The Australian dollar surged beyond $0.64 on Tuesday, marking its strongest performance in over four months. This ascendancy followed renewed criticisms from President Trump directed at the Federal Reserve, which undermined investor confidence in American assets. Additionally, concerns persisted over delayed global trade negotiations, as China continued to resist Trump's tariff demands. Domestically, there is growing speculation among traders regarding potential interest rate cuts by the Reserve Bank of Australia in their May meeting. While a 25 basis-point reduction is widely anticipated, there is some speculation about the possibility of a more substantial 50 basis-point cut due to escalating concerns about a global economic slowdown fueled by ongoing trade tensions. Market analysts also await Australia's upcoming PMI data, due later this week, for further insights into the country's economic health.