A new US tariff on an additional $16bn of Chinese imports came into effect at 12:01 on Thursday, after China said it would impose retaliatory tariffs on the same amount of US goods. US President Donald Trump said in an interview with Reuters: The trade talks with China in Washington this week are not expected to make much progress.
At a recent policy meeting, the Fed said it would be prepared to raise interest rates again as long as the U.S. economy remained healthy, with some support for the dollar index. Summary of the meeting dated from 31th July-31th August showed that "many participants suggested that if the forthcoming data continue to support the existing economic outlook, it may soon be appropriate to cut loose policies further. "
Aussie dollar/US dollar.On Thursday the Aussie dollar fell 0.63 % to 0.7300, and this week it fell to near its lowest level.The dollar/yen rose 0.25% to 110.84 and the dollar/RMB rose 0.37 % to 6.8670, as the People's Bank of China set the central price at 6.8367, compared with 6.8271 on Wednesday.
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