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AUD/USD remains depressed below 0.6300 as trade jitters underpin USD
AUD/USD trades with a negative bias below the 0.6300 mark amid a mildly stronger USD, which hit a three-week top during the Asian session. Moreover, worries over Trump's trade tariffs weigh on investors' sentiment and further undermine the risk-sensitive Aussie amid bets that the RBA will cut interest rates again in May.
USD/JPY flat-lined around mid-150.00s; remains close to multi-week high set on Tuesday
USD/JPY struggles to build on the overnight move higher and oscillates around mid-150.00s during the Asian session on Thursday amid mixed cues. Hawkish BoJ expectations and the risk-off impulse, led by Trump's new tariff on imported cars, underpin the safe-haven JPY, capping spot prices.
Gold price sticks to positive bias above $3,000 on safe-haven demand
Gold price ticks higher during the Asian session on Thursday as worries about Trump's tariff plans continue to benefit the safe-haven bullion. However, a modest USD uptick to a three-week high caps the commodity. Traders also seem reluctant and opt to wait for the release of the US PCE Price Index on Friday.
Stablecoin mania kicks off as Wyoming and Fidelity join the race
According to Governor Mark Gordon, the state of Wyoming has joined the race for a stablecoin, following plans to launch WYST, a US Dollar-backed token in July.
Sticky UK services inflation shows signs of tax hike impact
There are tentative signs that the forthcoming rise in employer National Insurance is having an impact on service sector inflation, which came in a tad higher than expected in February. It should still fall back in the second quarter, though, keeping the Bank of England on track for three further rate cuts this year.
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