Australia keen on penning RCEP trade pact this year despite disputes with China – SCMP

Dhwani Mehta FXStreet

According to a story carried by the South China Morning Post (SCMP), Australian Treasurer Josh Frydenberg said that the souring diplomatic relationship with China will not impede the progress of the Regional Comprehensive Economic Partnership (RCEP).

“Australia would continue to advocate behind closed doors for a deal that is in its interests,” Frydenberg said last week.

Separately, the Australian Department of Foreign Affairs and Trade also said last Wednesday that there was no change in Australia’s commitment to sign the RCEP.

Market reaction

The above headlines seem to be ignored by the AUD bulls, as AUD/USD holds the higher ground amid the upbeat market mood.

At the press time, AUD/USD trades with 0.32% gains around the 0.6970 region.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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