Higher beta currencies, including the Australian dollar and most emerging world currencies, have come under pressure as stock markets take a fresh tumble, led by Chinese bourses, after the latest ratchet higher in trade tensions between the U.S. and China.The Australian dollar racked up a 0.8% loss to the U.S. dollar and a 0.7% decline versus the yen. EUR-USD has lifted back above 1.1700, rebounding from yesterday’s three-session low at 1.1690. USD-JPY has settled in the lower 111.0s after printing a seven-week high at 111.35 yesterday.
[EUR, USD]