Trump told President Xi he would stay quiet on Hong Kong amid trade talks - CNN

CNN has reported that during a phone call with Xi on June 18, Trump raised Biden's political prospects as well as those of Sen. In that call, Trump also told Xi he would remain quiet on Hong Kong protests as trade talks progressed.

On Thursday, Trump told reporters at the White House he'd consider asking his counterpart in Beijing to investigate the Bidens, adding to a growing list of foreign leaders he's tried to enlist in his attempts to bring down a potential Democratic challenger.

"It's certainly something we can start thinking about," Trump said when questioned whether he would seek the help of Xi in investigating Biden. "Because I'm sure that President Xi does not like being under that kind of scrutiny."

FX implications

There is, as ever, a keen interest in the trade relations between the US and China, which are damaging the global economy as recent data suggests. US presidential politics is also coming back to the fore with the Autumn presidential elections just 12 months away. Risk currency crosses such as AUD/JPY and USD/JPY are the most affected by such political risks.