Aussie slips despite revived trade hopes

The Australian dollar tilted lower against the greenback today despite renewed optimism in global markets after upbeat remarks about the trade talks between the US and China.

President Donald Trump said last week that the signing of the phase one trade deal with China is "very close." 

Chinese President Xi Jinping also said that China and the US are fully cooperating to reach the interim trade agreement, but said China will not shy away from retaliation to any trade threats if necessary.

Reuters cited Chinese sources that negotiations for the phase two will not happen before the next US presidential election.

As for trading, AUD/USD fell by 0.2% to 0.6772, and hit an intraday high of 0.68 and a low of 0.6767.