Trade war escalation hits Wall Street, triggers risk aversion. Australian dollar drops sharply across the board, AUD/USD heads for the lowest close since the financial crisis. The AUD/USD pair tumbled following Trump’s announcement of more tariffs to China. It fell from 0.6867 to 0.6793 reaching the lowest intraday level since the January “flash crash”. US President Trump said the US would place a 10% tariff on $300bn of additional Chinese goods since September 1st. The move represents an escalation of the trade war between the US and China. Wall Street tumbled after the announcement and US yields move further to the downside. Crude oil collapsed, down now more than 7% and gold jumped toward $1440, up $40 from the daily low. AUD/NZD also gets hit Among currencies, the Yen soared after the announcement across the board amid risk aversion. The Australian Dollar so far is among the most affected. The AUD/NZD lost 75 pips in a few minutes, falling to 1.0369, the lowest in four months. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Year-end target of 1.14 unchanged – NBF FX Street 4 years Trade war escalation hits Wall Street, triggers risk aversion. Australian dollar drops sharply across the board, AUD/USD heads for the lowest close since the financial crisis. The AUD/USD pair tumbled following Trump's announcement of more tariffs to China. It fell from 0.6867 to 0.6793 reaching the lowest intraday level since the January "flash crash". US President Trump said the US would place a 10% tariff on $300bn of additional Chinese goods since September 1st. The move represents an escalation of the trade war between the US and China. Wall Street tumbled after the announcement and US… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
