2357 GMT - Early trading in the Australian dollar-U.S. dollar pair has been jittery with some evidence of buying just below 0.6000, says Rodrigo Catril, senior currency strategist at NAB. The pair's fall on Friday was its seventh largest in the past 25 years, so a near-term rebound is a possibility, but liquidity is low and most in the market are waiting to see how China reopens after being on holidays on Friday, he adds. The PBoC CNY fix is also going to be important, now that China is going all in in terms of its U.S. trade war. he says. Will they still look to keep the CNY stable? This is an important dynamic for the AUD, a CNY depreciation would result in another leg lower for AUD/USD, he adds. Pair now trades at 0.6005. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
April 06, 2025 19:57 ET (23:57 GMT)
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