TD Securities: Expect Trump's reciprocal tariffs to push the Australian dollar back to the lower range of 0.62.

On March 28, Jin10 reported that TD Securities stated that the Reserve Bank of Australia's April statement is unlikely to affect the market trend of the Australian dollar, as the bank's tone is expected to remain unchanged. Strategists Prashant Newnaha and Alex Loo said in a report that the Reserve Bank of Australia is unlikely to change its "hawkish" stance and is also unlikely to signal a rate cut as early as May. They believe that the announcement of reciprocal tariffs by Trump on April 2 will be a more market-influencing event, which is expected to have serious impacts on the Asia region, as the U.S. trade deficit with Asia accounts for 25% of the U.S. trade deficit. They pointed out that Australia's close trade relations with Asia make it vulnerable, and they expect the Australian dollar to the U.S. dollar trend to be adversely affected, potentially returning to the range low of 0.62 by the end of the second quarter.