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There are signs of renewed trade deal optimism. It was reported that the EU and the US are progressing towards an agreement that would set a 15% tariff for most imports, following the announcement of the US-Japan trade agreement yesterday.

President Donald Trump announced a trade agreement with Japan that includes a 15% tariff on Japanese exports to the US, significantly lower than the previously anticipated 25%

The Australian dollar edged lower against the US dollar following the release of the Reserve Bank of Australia’s meeting minutes. The RBA opted to defer a rate cut, viewing a July move as inconsistent with their ‘cautious’ strategy.