The AUD weakened in yesterday’s trading after RBA’s Guy Debelle commented on the US-China trade war. The Australian dollar lost against major currencies from the West in Yesterday’s trading.
The AUD to USD trading pair lost 0.37% or 0.0025 points. The pair reached ranges between $0.6746 and $0.6781 in Tuesday’s sessions.
The EUR to AUD pair moved up by 0.51%, or 0.0083 points, in Tuesday’s trading. The pair hit levels from AU$1.6375 to AU$1.6472.
The GBP to AUD exchange pair rose by 0.71% or 0.0128 points. The pair extended its gains to levels from AU$1.8025 to AU$1.8157 in yesterday’s sessions.
Meanwhile, the AUD/NZD pair traded flat. The pair slight inched up by 0.13%, or 0.0013 points, in Tuesday’s trading and has reached levels between NZD$1.0589 to NZ$1.0617 in sessions.
However, the AUD gained against the weakening CNY yesterday. The CNY/AUD trading pair went down by 0.27% or 0.0006 points and has hit ranges of AUD$-.2063 to AU$0.2069 in sessions.
Yesterday, the Reserve Bank of Australia’s deputy governor Guy Debelle gave a speech. He addressed the current news from the US-China conflict.
Debelle met with the Economic Society of Australia in Canberra on the morning of August 27. The Australian official addressed the country’s current trading performance and other foreign liabilities.
According to Debelle, despite some of the flaws in the system, it has still delivered some benefits for global welfare and growth.
Debelle also said that the foreign debt liabilities are the nation’s vulnerabilities, but he added that Australians shouldn’t be concerned about this.
His comment comes after the RBA’s governor Philip Lowe’s comment over the weekend. Lowe, along with other officials from major central banks met at the US for their meeting.
In the meeting, the RBA governor pointed out that monetary policies are being used to absorb the pressure from economic shocks.