China SAFE: China-US phase one trade deal will help forex market balance
|Amid pre-Christmas holiday-thinned markets, an official of China's forex regulator, the State Administration of Foreign Exchange (SAFE), came out on the wires last minutes, making some notable remarks on a US-China trade deal and Yuan’s internalization.
Key Quotes:
China-US phase 1 trade agreement will help forex market balance.
China will steadily increase the yuan's convertibility in 2020.
Markets failed to react to the above comments, as holiday lull creeps in and keeps most majors in thin trading ranges. USD/JPY trades flat below 109.50 while the Aussie is off the weekly tops on the 0.69 handle.
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