Word through the forex town was that, depending on how the first step of the agreement works out, the U.S. and China are planning to roll back certain tariffs in tranches. Risk capital, however, had their rallies cut short when it was also revealed that within the U.S. government this proposal faced strong internal opposition. The monetary policy statement issued at the Asian session of the RBA indicated that the central bank refused to further lower rates. Besides seeing some signs of growth emerging from a soft patch and labor market resilience, officials are also concerned that further easing could convey an excessively negative performance view.
