The US dollar rose today to a two-and-a-half-month high, buoyed by fears of a spike in China-US trade war, as well as signs that the US economy is outperforming its peers as the euro slides after weak growth data.
The dollar index hit its highest level since August 15 at 96.95 before retreating slightly to 96.77 currently. While the euro hit its lowest level against the US dollar since yesterday's trading at 1.1345 following the growth data which showed a slower than expected growth in the third quarter of 2018 and economic confidence continued to decline.
On the other hand, as China and the US trade war escalated and the Chinese economy slowed, the Chinese Yuan fell to a 22-month low.
Australia's inflation data is expected to rise by 0.5% in the third quarter of 2018 after rising by 0.4% in the second quarter of the same year.
