Australian dollar declines

dollar23The Australian dollar continues to fall as US-China trade tensions continue to rise.

The Australian dollar was worth 73.62 US cents at 0835 AEST, a decrease from Wednesday’s 74.10.

The dollar has been under pressure after the US ramped up its trade war with China. The United States had announced plans to impose a further US$200 billion worth of tariffs on Chinese products after the close of trade on Wall Street on Tuesday.

The latest move comes just days after the two nations imposed tariffs of US$34 billion on each other’s goods. The Australian dollar also dropped to 55.8 British pence, 63.1 Euro cents and 82.5 Japanese yen.

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