Australian dollar rises

dollar42The Australian dollar has bounced back on Friday, after China issued a cautious response to US president Donald Trump’s announcement to impose further tariffs on Chinese products.

The Australian dollar rose to 74.05 US cents at 0820 AEST, from 73.87 on Thursday.

Earlier this week, the US had announced plans to impose a further US$200 billion worth of tariffs on Chinese products.

On Wednesday, Beijing said it plans to hit back after that announcement but the how is yet to be determined.

The dollar has also risen to 56 British pence, about 63.5 Euro cents and 83.3 Japanese yen.

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