The dollar gave up gains on Tuesday as investors curbed earlier enthusiasm about U.S.-China trade progress while the Australian currency barely budged from recent lows after a central bank rate cut decision offered few clues about future easing.
The U.S. dollar index against a basket of six major currencies earlier rose to its highest in a week but retreated as doubt set in about the resumption of U.S.-China efforts to resolve their trade war.
The market focus now shifts to Reserve Bank of Australia Governor Philip Lowe, who speaks to business leaders in the northern Australian city of Darwin today, which could provide clues on how much further interest rates could fall.
The Australian dollar was up 0.3% at $0.6983 on Tuesday after slumping 0.9% on Monday, its biggest decline since April 24.
The RBA lowered interest rates by 25 basis points to a record low of 1.00%, matching economists' expectations. In a statement the central said it would lower rates again "if needed," a phrase some analysts took to mean an additional rate cut is less certain than before.
The U.S. dollar index was little lower at 96.74 on Tuesday having posted its biggest increase since March 7 on Monday on hopes Beijing and Washington were making headway in their trade negotiations.
16 Oct 2019 05:36 PM
The Indian rupee ended higher against the dollar for the first time in three sessions, on custodian greenback inflows that eroded an early
16 Oct 2019 03:19 PM
Britain's currency weakened further on Wednesday while stocks in London extended their losses, following a report that talks to reach a Brexit deal with the European Union are near to collapse.
16 Oct 2019 11:58 AM
The yen is currently trading near 108.70 to a dollar, representing 0.15% gains on the day. The dollar has come under pressure, possibly due to the Sino-U.S. political friction and the haven demand for the anti-risk Yen.
16 Oct 2019 11:42 AM
Indian equity benchmarks moved higher on Wednesday, as investors looked towards a rise in September-quarter earnings for companies after the government's corporate tax cut, amid a rise in inflation and hopes of further rate cuts from the central bank
16 Oct 2019 11:31 AM
China's yuan fell against the dollar on Wednesday, erasing gains made following progress in Sino-U.S. trade talks and briefly falling past a key threshold, as a much weaker midpoint set by the central bank dented sentiment.
16 Oct 2019 10:57 AM
Gold traded lower on Tuesday as market participants awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note. Gold for