The Australian dollar slumped to one and a half month low on Tuesday as persistent trade tensions between US and China continued to weigh. The United States (US) and China reportedly decided to charge additional port fees on ocean shipping companies that transport everything from holiday toys to crude oil. As China and Australia are close trading partners, the tensions in the former are seen weighing on the latter. Besides, RBA minutes today noted that economic risks persist, with consumption remaining weak amid softer job and wage growth. The AUD/USD pair is trading around 0.6470, lower by 0.77% on the day.
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