Chinese Ambassador to US: China, US need to get the basics of their relations right

Speaking at speak at the Gala 2019 of the US-China Business Council, Cui Tiankai, Chinese Ambassador to the US said: “China and the US need to get the basics of their relations right and strengthen communication on strategic issues. There is no “Thucydides trap” in the world, and the real trap will only come from misunderstanding, misjudgment and obstinate prejudice”.

This follows Thursday’s comments from China's top diplomat, Yang Jiechi, as he noted that “Beijing and Washington must increase strategic communication and work together based on the consensus reached by the two countries' heads of state”.

The above piece of information could be in the context of the ongoing US-China trade talks but for now it seems to have little effect on the markets, as USD/JPY continues its struggle around 200-DMA of 108.88 while the Aussie nurses losses incurred from dismal Australian macro data.