Commonwealth Bank has warned that higher tariffs threatened by US President-elect Donald Trump will turbocharge the greenback’s rally well into next year, threatening to knock the Australian dollar below US60¢.
The Aussie dollar fell 0.6 per cent to US64.7¢ overnight as robust US manufacturing data lifted the US dollar index to 106.4 – just shy of its two-year high of 107.5 reached last month. The Australian currency has already plunged 7.3 per cent from its September high, hitting a four-month low of US64.32¢ last week.
