Australian dollar recovers yesterday's losses

Aussie rose against greenback today, to rebound from 11-year low vs Singapore dollar yesterday after the Reserve Bank of New Zealand rate cut decision.

RBNZ cut interest rates by 50-bp to 1% from 1.50%, beating market's expectations of a cut by 25-bp.

Global central banks, including in India and Thailand, are moving towards rate cuts to protect their economies from the trade war impacts.

Bloomberg stated that Australian dollar shed more than 3% during this year against the Singapore dollar.

The US-China trade war intensified after President Trump threatened to increase tariffs Chinese imports, while China suspended purchasing agricultural goods.

As of 15:44 GMT, AUD/USD rose by 0.8% to $0.6818, with a high of $0.682 and a low of $0.6727.