Meanwhile, USD/JPY is also dropping further with a near 1% decline today to near 143.00 at the moment. And you have GBP/USD rebounding strongly on the week to reclaim the 1.3000 mark currently. Even amid the negative risk rhetoric and China worries, AUD/USD is poised to erase a large chunk of last week's decline as it moves back above 0.6200 at the moment.
With the greenback falling out of favour and China also fighting back with weakening its own currency in this trade war, gold remains the ultimate beneficiary in the meantime.
The precious metal is up over 1% again today as it surges above $3,200 to a fresh record high. That brief dip back under $3,000 has proven to be quite the bargain.
This article was written by Justin Low at www.forexlive.com. Read More Details
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