The dollar fell, the Australian dollar rose after Australia retained its interest
The Australian dollar fell Tuesday after the previous increase to the highest level of 1 year, 95.44, which was reached Jul. 19.
Index, the index of dollar strength measurements against the basket of 6 major currencies, which fell 0.02% to 95.17 at 1:30 AM ET (0530GMT). Overnight, USD index has increased to the highest level 1 year, 95,652 reached on 19 Jul, before mitigating at the end of the session.
The market believes that recent trade changes between the US and China may have supported the dollar when tariffs can reduce U.S. deficit.
Shinichiro Kadota, expert on FX and interest rates at Barclays Tokyo told Reuters on Tuesday: "There are many uncertainties about trade. We do not know exactly how much the tax will be and how the situation will deteriorate ".
"If U.S. economic growth slows down because of taxes or because of pre-tax reductions, I think the economic efficiency can be reduced and can reduce the dollar price."
Meanwhile, the Australian dollar rose against the US dollar at a rate of AUD/USD up 0.08% to 0.7394 after the Australian central Bank kept the overnight interest rate at a record low of 1.5% with an explanation that the low interest rate would support the economy. They also added that they forecast inflation that would be higher on 2019 and 2020.
The yen also raises prices against the dollar. The USD/JPY rate fell 0.08% and 111.32 on Tuesday when it was difficult to raise prices in recent weeks. Rates reached 112 last week.
During the week, the US and Japan were predicted to have bilateral negotiations in Washington on Thursday.
The USD/CNY rate rose 0.06% to 6.8590 on Tuesday. The domestic NDT nearly touches the lowest level since May 5, 2017, whereas the foreign-state NDT touches the lowest 15 months compared to the dollar on Friday when tensions between the US and China increased heat.
The Chinese central Bank fixed the reference exchange rate at 6.8431 on Tuesday compared to the previous level of 6.8519.
Index, the index of dollar strength measurements against the basket of 6 major currencies, which fell 0.02% to 95.17 at 1:30 AM ET (0530GMT). Overnight, USD index has increased to the highest level 1 year, 95,652 reached on 19 Jul, before mitigating at the end of the session.
The market believes that recent trade changes between the US and China may have supported the dollar when tariffs can reduce U.S. deficit.
Shinichiro Kadota, expert on FX and interest rates at Barclays Tokyo told Reuters on Tuesday: "There are many uncertainties about trade. We do not know exactly how much the tax will be and how the situation will deteriorate ".
"If U.S. economic growth slows down because of taxes or because of pre-tax reductions, I think the economic efficiency can be reduced and can reduce the dollar price."
Meanwhile, the Australian dollar rose against the US dollar at a rate of AUD/USD up 0.08% to 0.7394 after the Australian central Bank kept the overnight interest rate at a record low of 1.5% with an explanation that the low interest rate would support the economy. They also added that they forecast inflation that would be higher on 2019 and 2020.
The yen also raises prices against the dollar. The USD/JPY rate fell 0.08% and 111.32 on Tuesday when it was difficult to raise prices in recent weeks. Rates reached 112 last week.
During the week, the US and Japan were predicted to have bilateral negotiations in Washington on Thursday.
The USD/CNY rate rose 0.06% to 6.8590 on Tuesday. The domestic NDT nearly touches the lowest level since May 5, 2017, whereas the foreign-state NDT touches the lowest 15 months compared to the dollar on Friday when tensions between the US and China increased heat.
The Chinese central Bank fixed the reference exchange rate at 6.8431 on Tuesday compared to the previous level of 6.8519.
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