Financial markets remained volatile based on multiple factors. Investors are betting that the trade truce between China and the U.S. won’t last after the arrest of Huawei’s chief financial officer.
Meanwhile, the Wall Street Journal reported that the Federal Reserve may adopt a wait-and-see approach to future policy decisions. The report appeared to ease investor fears that the Federal Reserve may overshoot on policy tightening.
Markets also face a test from U.S. payrolls data later in the session amid speculation the economy was heading for a tough patch after years of solid growth.
All these uncertainty saw surge in demand for safe-haven-greenback. But the safe-haven move saw the Aussie-Kiwi counterparts loose some ground.