• NY opened near 0.6040 after pair rallied overnight, rally extended initially

• Better risk environment helped the lift; stocks, gold, US yields gained

• AUD/USD traded 0.60854 but the pair then fell as tariff tensions weighed

• US said China to take back seat to other trade talks weighed initially

• Slide intensified when White House official said 104% tariffs on China Wednesday

• Stocks, gold turned lower and USD/CNH hit an all-time high of 7.4118 on D3

• AUD/USD traded down to 0.5970 then bounced slightly, was down -0.13% late

• Techs are bearish; RSIs are falling, daily & monthly inverted hammers in place
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)