The Australian Dollar has seen mixed performance so far this week, as concerns about a potential ‘trade war’ between the US and Australia have kept the currency from benefitting too much from domestic news.
On Wednesday morning, the Australian Dollar tumbled after China announced fresh tariffs on imports of US goods. As China is Australia’s biggest trade partner, trade clashes involving China have left the ‘Aussie’ looking unappealing.
Australian data has also been unable to support the ‘Aussie’ Dollar. While retail sales beat expectations, building permits fell short. Investors are anticipating further developments on trade, as well as services and trade balance data due on Thursday.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/AUD exchange rates
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