Overnight, we've seen the U.S. Dollar strengthen after President Trump said he expects to reach a “great deal” with China’s President Xi when they meet later on Thursday.
His comments lifted confidence across global markets after weeks of trade uncertainty with reports now suggesting that China’s state-owned COFCO bought several U.S. soybean shipments, which has added to the optimism that tensions may be easing.
The Australian Dollar has also strengthened, rising 0.3% to 0.6606, after stronger-than expected inflation data has now reduced the chances of a rate cut from the Reserve Bank of Australia next week.
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