China’s Vice Foreign Minister: Coming months crucial for China-US relations

Dhwani Mehta FXStreet

“The coming months are crucial for China-US relations,” said China’s Vice Foreign Minister in a statement on Wednesday.

Additional quotes

“Needs to keep relations on the right track.”

“Ensure they do not run out of control or derail.”

Separately, China’s news outlet, People’s Daily, said in an editorial piece this Wednesday, “there is only one China in the world, and Taiwan is an inseparable part of the Chinese territory. Any attempt that denies and challenges the "one-China principle" is doomed to fail.

The tensions between the US and China remain prevalent over a number of issues, with the latest over the Hong Kong security law after the tit-for-tat response from Beijing on the US’s sanctions on top HK officials.

Markets remain wary ahead of the scheduled trade talks to discuss the implementation of the phase one trade deal between the world’s two biggest economies.

Market reaction

Amid broad risk aversion, the safe-haven US dollar is extending its recovery mode while S&P 500 futures tread water around 3300.

AUD/USD keeps its consolidative mode intact near weekly lows of 0.7111, down 0.23% on a daily basis.

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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