U.S.- China Trade War Causes Australian Dollar To Tumble – 10 July, 2018

Trade tensions between two of the worlds biggest economies, the U.S. and China, caused the Australian dollar to fall. The Australian dollar fell from its highest level in three weeks by 0.6 percent to $0.7417 and 0.6 percent against the yen to 82.30 yen. The dollar climbed to an 11 month high against the Chinese yuan after Washington imposed a 25 percent tariffs on Chinese imports with China countering the same tariffs on U.S. exports to China. The yuan fell to 6.6918 yuan per dollar and the yen traded at 110.91 yen.