The U.S. dollar slipped on Tuesday in Asia despite a trade truce between the U.S. and China. The Aussie dollar gained after the Reserve Bank of Australia (RBA) cut interest rates.
The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.1% to 96.352 by 1:20 AM ET (05:20 GMT).
U.S. President Donald Trump and his Chinese counterpart Xi Jinping have agreed during a bilateral meeting at the summit in Osaka, Japan, to hold off on imposing new tariffs on imports of each other's goods and to move forward with trade negotiation.
Meanwhile, the AUD/USD pair rose 0.3% to 0.6982 after the RBA cut interest rates to 1%, which is the lowest rate in history.
Philip Lowe, the RBA governor, said the cut was to “support employment growth” and generate “greater confidence” in the Australian economy.
Source : Investing.com