Australian dollar falls as trade tensions escalate

Aussie fell against greenback during trading today due to the escalation of the US-China trade war.

Australian economic data showed today that AIG services index fell to 43.9 points last month, compared to 52.2 points in June.

News agencies reported today that the Chinese government has ordered state-owned companies to stop the US agricultural commodities purchases until the pace of the trade talks between the two countries is more clear.

In response to Trump's administration decision to start imposing additional tariffs on Chinese goods worth $300 billion, starting from September 1st.

Trump accused China of the yuan's exchange rate manipulation for competitive advantages on the expense of the US.

As of 16:41 GMT, AUD/USD fell by 0.3% to 0.6778, with the highest today at $0.6805 and the lowest at $0.6478.