AUD/USD falls below 0.6000 as AUD/JPY slides

Last week on April 3 the AUD/USD pushed up towards 0.6400. The high seen was set at 0.6389. Well, since then it has been an entirely different story for the AUD/USD. It crumbled on Friday and dropped below the 0.6000 handle and later closed the week at 0.6040. The price action today has seen a new multi-year low set at 0.5933 earlier this morning. That low has defined the lowest point for the AUD/USD in over 5 years. The driver for this has been the AUD/JPY and despite Australia seemingly avoiding the worst of the Trump tariff measures that has not saved the currency. This is all due to the corresponding slide in the AUD/JPY. That cross has fallen almost 1000 pips over the past 3 trading days, as the fallout in China impacts the outlook for the Australian economy. The one bright spot for the AUD/USD though; exports to the US just got more competitive. The AUD/USD is right now at 0.6005