The euro rose today ahead of a meeting between US President Donald Trump and European Commission President Jean-Claude Juncker, but the rise was limited with concerns about a trade imbalance between the two powers. The EURUSD rose to its daily high of 1.1711.
The talks come in the wake of US tariffs on steel and aluminum imports from the European Union and Trump's threat to extend tariffs on European cars.
The markets are awaiting the European Central Bank's monetary policy meeting tomorrow, and the bank directed markets to hold interest rates until the middle of next year at a meeting last month when it announced the end of the bond purchase program in December 2018.
In the morning, the Australian dollar fell in the wake of inflation data, which remained low during the second quarter of 2018, with the consumer price index rose by 0.4%, the same as the first quarter of 2018. The AUDUSD settled below the 0.7437 resistance level, after hitting its highest since July 11 at 0.7449.
