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Risk Currencies Rally on Bets US May Roll Back China Tariffs

  • President Joe Biden may lift some tariffs on Chinese goods
  • Both the Aussie and rand are rebounding from 2020 lows
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US and China Discuss Trump-Era Tariffs Biden May Ease
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Commodity and risk currencies rallied overnight on reports the US may soon rollback tariffs on Chinese consumer goods. Asian stock futures pointed to modest gains Tuesday.

The Australian dollar gained as much as 1.1% while South Africa’s rand rose almost 1%. The offshore yuan advanced 0.1%.