The Australian Dollar US Dollar (AUD/USD) exchange rate traded lower on Tuesday.
The risk sensitive Australian Dollar was out of favour and the safe haven US Dollar found support from Trump’s latest comments on China.
President Trump said he wanted to “decouple” from China, ending economic ties with the world’s second largest economy. His comments threw into doubt the Phase 1 trade war, with investors questioning whether another trade war could be on the cards if Trump wins the election.
Australian domestic data was disappointing, with payrolls declining -0.4%, and Victoria seeing a 2% decline.