The Aussie dollar surges again on more positive trade headlines


The Australian dollar is surging again, boosted by reports that US President Donald Trump has asked key officials to begin drafting potential terms of a trade agreement with China.

According to Bloomberg, Trump is interested in reaching an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month, according to four people familiar with the matter.

The news has seen the AUD/USD sharply higher, seeing it currently trade at .7246.

AUD/USD Hourly Chart

On Thursday, the Aussie recorded its largest one-day percentage gain against the greenback since March 2017.

The news has also helped to boost assets further out the risk spectrum in Asia, especially the Chinese yuan and stocks which have jumped on the unsubstantiated report.