RBA’s Lowe: Escalating US-China trade war is “very worrying”

Dhwani Mehta FXStreet

The Sydney Morning Herald (SMH) quoted sources, who attended a private business event on Tuesday, citing the key comments delivered by the Reserve Bank of Australia (RBA) Governor Philip Lowe in the meeting.

Key Quotes:

US-China trade war was hurting global investment, wages and economic growth.

I do not have a clear idea of what strategy the U.S. has. [Some people in the US] say that it is time for Team West to muscle up against China and that is very worrying.

The comments had limited impact on the market sentiment, as the focus shifted towards the FOMC July meeting’s minutes and Powell’s speech at the Jackson Hole Symposium on Friday.

Meanwhile, the Aussie cheers an improvement in the risk sentiment and attempts another run to regain the 0.68 handle.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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