US Senate Republican Leader McConnell criticizes conviction of veteran Hong Kong activists


Late Thursday, a Hong Kong court found seven prominent democrats guilty of unauthorized assembly charges, including 82-year-old barrister Martin Lee and media tycoon Jimmy Lai, 72, said Reuters.

The news also said, “U.S. Secretary of State Anthony Blinken said on Wednesday he had certified to Congress that Hong Kong did not warrant preferential economic treatment under a law that had allowed Washington to maintain a special relationship with the city, reiterating decision reached last year.”

The announcement sparked global fury and US Senate Majority Leader Mitch McConnell also joined the league while pushing the Biden administration to impose meaningful international consequences. Further, US State Department spokesperson Ned Price also crossed wies, via Sputnik news, while saying, "US condemns conviction of seven pro-democracy activists in Hong Kong".

FX implications

Although the Good Friday holiday restricts market moves, the news should weigh on the sentiment and help the US dollar to recover some of the latest losses. The same can harm AUD/USD run-up and gold.

Read: Gold Price Analysis: XAU/USD bulls probed below $1,750 amid thin holiday trade

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD falls toward 1.20 as the dollar gains further ground

EUR/USD is under pressure as the dollar gains ground across the board, amid a damp market mood. The euro fails to benefit from the European regulators' decision to reinstate the J&J vaccine.

EUR/USD News

GBP/USD remains pressured below 1.3950 amid mixed UK data

GBP/USD is trading below 1.3950, extending the pullback from its seven-week highs. The dollar benefits from the risk-off mood, while the pound struggles after CPI missed with 0.7% and as UK PM Johnson warns of winter covid wave.

GBP/USD News

Gold likely to face stiff resistance near $1795-$1800, focus on yields

Gold (XAU/USD) rebounded on Tuesday as the US Treasury yields tumbled alongside global stocks. Surging covid infections globally brought a reality check into the markets and triggered a fresh risk-aversion wave.

Gold News

Binance needs to breach this crucial supply barrier to set up record levels again

Binance Coin price shows a short-term rejection around the supply zone’s upper layer at $594.32. A close above the said level is a must if BNB bulls want to scale to new highs. Supply distribution shows that whales holding between 100,000 to 1,000,000 BNB are accumulating.

Read more

Bank of Canada Preview: Dovish surprise to lift USD/CAD

Bank of Canada is expected to leave its policy unchanged at 0.25%. Investors await adjustments to BoC’s asset-buying program. USD/CAD is likely to react more significantly to a dovish surprise.

Read more

Forex MAJORS

Cryptocurrencies

Signatures