China’s Foreign Ministry: US has abruptly informed to close its consulate in Houston

Dhwani Mehta FXStreet

The Chinese foreign ministry is out with a statement on Wednesday, confirming the closure of its Houston consulate, adhering to the US’ demand.

Additional quotes

"China strongly condemns this "outrageous" move."

"Urges the US to correct its wrong decisions or there will be retaliation."

“The unilateral closure of China’s consulate-general in Houston within a short period of time is an unprecedented escalation of its recent actions against China.”

On reports of documents being burned in the Chinese consulate in Houston, says “the consulate is operating normally.”

This comes after the Global Times Editor, Hu Xijin, tweeted out earlier, “The US asked China to close Consulate General in Houston in 72 hours. This is a crazy move.”

Market reaction

This is another issue that has cropped up between the US and China, as the tensions continue to heighten, now weighing on the market mood. The haven demand for the greenback is back in play.

The S&P 500 futures have turned negative while AUD/USD dropped nearly 40-pips from the multi-month highs of 0.7168.

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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