US Commerce Sec Ross: I am optimistic we can get something done on China
|US Commerce Secretary Ross is crossing the wires, speaking with Fox, and has said that he is optimistic they can get something done on China.
Key comments:
- We think there is hope we can get a deal with China done.
- Deal is still a work in progress.
FX implications:
There is no material impact expected on the market from these comments, coming from a man who has continually been a pessimist, outspoken about the 'serious structural issues' that the US has with China. There are mixed feelings of sentiment in the market with respect to the latest headlines surrounding trade between the US and China. On the one hand we have a US administration extending Huawei's license to do business with American companies, while on the other, there are still echoes of scepticism from China due to Trump's reluctance to scale back on tariffs. The Yen, Yuan and AUD are the usual proxy trade-offs.
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