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AUD/USD Rate Rebound Rattled by Fears of Prolonged US-China Trade War
AUD/USD struggles to retain the advance following the lackluster US Non-Farm Payrolls (NFP) report, and signs of a prolonged US-China trade war may drag on the exchange rate as it puts pressure on the Reserve Bank of Australia (RBA) to further embark on its rate easing cycle. AUD/USD has gapped lower at the start of the week as Bloomberg News reports “Vice Premier Liu He, who will lead the Chinese contingent in high-level talks that begin Thursday, told visiting dignitaries he would bring an offer to Washington that won’t include commitments on reforming Chinese industrial policy or the government subsidies that ... (full story)