The dollar nursed losses on Tuesday as receding hopes for a preliminary trade de...
TOKYO - The dollar nursed losses on Tuesday as receding hopes for a preliminary trade deal between the United States and China hurt demand for the greenback.
The Australian dollar fell after minutes from a Reserve Bank of Australia policy meeting showed central bankers considered cutting rates this month. “The dollar tried to break above 109 yen, but it couldn’t because of worries about the trade deal,” said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo.
Washington and Beijing have imposed tariffs on each other’s goods in a bitter dispute over Chinese trade practices that the U.S. government says are unfair. “Everything was discussed including interest rates, negative interest, low inflation, easing, Dollar strength & its effect on manufacturing, trade with China, E.U. & others, etc.,” Trump tweeted soon after the meeting, calling the session “good & cordial”.
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