Australian Dollar Takes a Hit, But Still Holds Hope
The Australian dollar weakened against the US dollar, but later strengthened, supported by positive news on trade relations between Australia and the United States. The two countries recently signed a major agreement in critical minerals, which is expected to strengthen economic cooperation and reduce dependence on China for the supply of strategic resources.
President Donald Trump and Prime Minister Anthony Albanese called this cooperation a major step forward for the future of energy and industry. Meanwhile, hopes for an easing of trade tensions between the US and China also boosted market sentiment. However, the US trade representative's tough stance toward Beijing remains a concern, especially given the close economic ties between Australia and China, which could directly impact the Australian dollar's movements. (az)
Source: Newsmaker.id