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With US-China trade relations set to sour even further, that's putting a bid in the dollar while also leaving the Aussie offered at the same time. China announced over the weekend that it was pulling out from all future trade talks with the US in the wake of the recent decision to impose economic sanctions on a number of Chinese officials. The diplomatic scuffle is over China purchasing jets and missiles from a Russian arms exporter subject to US sanctions.

The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 27 September 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of today.

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