Australian Dollar Gains as USA Delays Tariffs on China

The Australian dollar got a lift today from positive developments in the Sino-US trade talks.
US President Donald Trump announced a delay in implementations of additional tariffs on Chinese imports, which were scheduled to kick off starting March 1, citing “substantial progress” in the trade talks between the United States and China. Trump also confirmed that he is planning to meet with Chinese President Xi Jinping in March.
The news lifted riskier currencies, especially of those countries that have significant trade ties to China, like Australia.
AUD/USD gained from 0.7123 to 0.7173 as of 13:06 GMT today. EUR/AUD dropped from 1.5899 to 1.5833.

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