The pair failed to capitalize on its recent bounce from multi-month lows and remained capped below the key 0.70 psychological mark, largely unaffected by the recent US Dollar weakness. The greenback has been hit hard on the back of firming market expectations for a Fed rate cut before the end of this year
Meanwhile, fears of a further escalation in the US-China trade tensions seemed to be one of the key factors keeping a lid on any meaningful up-move for the China-proxy Australian Dollar. The US President Donald Trump threatened that tariffs on China could be raised by another $300 billion if necessary and China responded by saying that it will take retaliatory measures if the US further escalates the trade war.


Thread: 
Thanks
Currently Active Users
Forex Forum India Statistics