AUD Holds Steady Amid US-China Summit Fallout

The Australian Dollar (AUD) held steady around 0.7010 during Asian trading hours on Friday as traders assessed the developments surrounding the US-China summit at the White House.

Chinese President Xi Jinping said that the US-China ties had reached a new historical milestone, with broad agreements on numerous issues and a new arrangement after trade talks being considered good news.

A Chinese leader added that Beijing and Washington must find a proper way to coexist peacefully and act as partners rather than rivals, according to the Financial Times.

The US Treasury Secretary Scott Bessent stated that the US and China had agreed to extend their bilateral trade truce until January 10.