The Australian dollar strengthened to above $0.654 on Thursday, marking its third straight consecutive of gains, as a surge in copper prices - driven by Trump’s newly announced tariffs - boosted demand for the commodity-linked currency. A 50% levy on all US copper imports, set to take effect August 1, has sent copper prices sharply higher. As one of the world’s top copper exporters, Australia stands to benefit, with higher prices supporting the Aussie due to its strong commodity ties. Additional backing came from gains in iron ore and gold, which also lifted resource-sensitive currencies. On the policy front, the Reserve Bank of Australia's surprise decision to hold rates earlier this week continued to offer support. Governor Michele Bullock flagged ongoing inflation risks from elevated unit labor costs and weak productivity, warning price pressures could exceed forecasts. Deputy Governor Andrew Hauser also noted rising global uncertainty, with tariffs expected to weigh heavily on growth.