Janet Yellen weighs visit to china, her first as US Treasury Secretary – Bloomberg

Anil Panchal FXStreet

Early Thursday morning in Asia, Bloomberg quotes anonymous sources while saying, “Janet Yellen is weighing a trip to China in the coming months that would be her first as US Treasury secretary.”

The news cites the reason as the Biden administration engages in a broad review of policy toward the Asian power and the tariffs on imported goods enacted under former President Donald Trump.

Additional comments (from Bloomberg)

The Treasury Department’s discussions on a possible Yellen visit are in the early stages and no decision has been made, with considerations including travel risks stemming from the delta variant of the coronavirus.

If the trip goes ahead, she would likely meet with Vice Premier Liu He -- regarded as China’s top economic official -- and would be the highest-ranking Biden appointee to visit the country.

The goals of a potential trip for Yellen to China would include discussing common ground between the nations, such as climate change efforts, and also more difficult ones, such as trade, according to one of the people familiar with the matter.

Market reaction

Global markets remain directionless following the news, amid a light calendar day. That said, AUD/USD stays sidelined below 0.7400 by the press time.

Read: AUD/USD edges higher on the way to 0.7400 amid mixed concerns

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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