US Treasury Secretary Yellen: Hopes to travel to China, wants to reestablish contact, discuss disagreements

Anil Panchal FXStreet

“US will continue to take actions to protect national security interests with regards to China even if that imposes some economic cost,” said US Treasury Secretary Janet Yellen during her interview with MSNBC early Thursday morning in Asia.

Additional comments

US will address supply chain risks, in areas such as electric vehicles, minerals and solar panels.

Inflation now down to about 5%, but ‘remains too high’.

Treasury monitoring commercial real estate sector very closely.

Expects some losses to banks from changes in commercial real estate.

Market reaction

The news offers an additional reason for the AUD/USD pair to decline further, down 0.03% intraday as bears attack the 0.6600 mark after falling the most on a day since March.

Also read: AUD/USD sellers keep the reins at three-week low near 0.6600 ahead of Australia Retail Sales

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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