Australian PM Morrison: Considering making Australia a safe haven for Hong Kong

Dhwani Mehta FXStreet

While speaking at an event on Thursday, Australian Prime Minister Scott Morrison confirmed that his country is prepared to 'step up and support' Hong Kong citizens.

Key quotes

“We are considering very actively and there are proposals that I asked to be brought forward several weeks ago and the final touches would be put on those and they’ll soon be considered by Cabinet to provide similar opportunities and we think that’s important and very consistent with who we are as a people and very consistent practically with the views that we have expressed.”

“...When we have made a final decision on those arrangements then I’ll make the announcements, but are you asking are we prepared to step up and provide support? The answer is yes.”

Earlier this week, the UK said they will offer safe haven to three million Hong Kong citizens, opening up the pathway for them to receive citizenship.

Market reaction

With the above comments, the risk sentiment has taken a hit, as they may not go down well with China and add to ongoing Australian-China rift.

AUD/USD eased-off daily highs to now trade at 0.6911, almost unchanged on the day.

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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