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Early Thursday morning in Asia, the US Trade Representative’s office unveiled stated suggesting further tariffs on the French and German products.

The list includes aircraft manufacturing parts and certain wines, cognacs and other brandies, said the official update.

FX implications

Despite the downbeat news, market’s risk-tone remains mildly positive with S&P 500 Futures staying above 3,700, currently up 0.07% to 3,727, by press time. The reason could be traced from hopes of further stimulus from the US and Japan, as well as expectations of recovery from the coronavirus (COVID-19) on upbeat vaccine developments. That said, AUD/USD remains on the front foot around fresh 32-month high while eyeing the 0.7700 threshold.

Read: AUD/USD: Bulls eye 0.7700 ahead of China PMI