The Australian Dollar (AUD) faced some pressure in the market after disappointing progress on US-China trade negotiations. Although the global risk environment remains positive, tariffs and trade policy concerns impact the Aussie’s movement.
The Pound Sterling advanced during the North American session after the Bank of England (BoE) reduced borrowing costs on a 7-2 vote split, with two members voting to hold rates unchanged.
The USD/CAD pair fails to capitalize on the pervious day's modest recovery move from the vicinity of the year-to-date low and meets with a fresh supply during the Asian session on Thursday.