2143 GMT - AUD/USD is at 0.6161 early in Asia and is likely to fall further this week, possibly testing 0.6100, says CBA Currency Strategist Joe Capurso. There are no important influences supporting AUD/USD, he adds. The tariff war undermines AUD against most currencies, with the strength of the U.S. economy also putting downward pressure on the pair, Capurso adds. Meanwhile, the Chinese economy is weak, commodity prices continue to fall and the Reserve Bank of Australia will likely start an interest-rate cutting cycle this month, he adds. A big fall in global equity markets would also weigh heavily on AUD/USD this week, Capurso says. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
February 02, 2025 16:43 ET (21:43 GMT)
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