China SAFE pledges to up support for epidemic control, real economy - Xinhua

China’s foreign exchange regulator, the State Administration of Foreign Exchange (SAFE), said in its latest statement released earlier on Tuesday, it will boost efforts to optimize foreign exchange management to support epidemic control and economic development, per Xinhua news agency.

Key quotes:

Measures should be taken to make full use of the "green channel" built to facilitate foreign exchange flows related to epidemic prevention and control.

Will also further facilitate cross-border trade and investment by increasing foreign exchange services through payment institutions, promoting the opening up of capital projects and assisting the interconnection of financial markets.

Supervision of the forex market should be tightened and that illegal behaviors will be strictly punished.

Risk recovery gaining steam in Europe?

Heading into the European open, the risk recovery is seen gaining some momentum, reflective of a fresh uptick seen in the US equity futures and Treasury yields across the curve.

The US dollar index bounce also appears to have stalled near 99.30 region, while Gold corrects nearly 1.5% and surrenders $1640 level.