The Australian dollar is emerging as an unexpected winner of US President Donald Trump’s aggressive trade policies with investors increasingly turning to the currency as a haven amid the turmoil.
Since early April, when Trump’s plans for hefty tariffs sent ripples through financial markets, the dollar has climbed nearly 8 per cent against its US counterpart. It has also risen against traditional haven currencies such as the Japanese yen and the Swiss franc.
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Cécile Lefort is a markets reporter based in the Sydney newsroom. Cécile worked in New York and Hong Kong writing about global capital markets. Email Cecile at cecile.lefort@afr.com
