A day after the US Treasury report branded China a currency manipulator in a rapidly escalating trade dispute, China’s official Communist Party newspaper, People’s Daily, said in its strongly-worded editorial on Tuesday that the US was “deliberately destroying international order”.
Key Quotes:
“United States was holding its own citizens to ransom, without mentioning the latest U.S. decision.
The responsibility of big countries is to provide the world with stability and certainty while creating conditions and opportunities for the common development of all countries.
But some people in the United States do just the opposite.”
Such comments continue to add fuel to the US-China trade war fire, keeping the risk sentiment broadly fragile. The USD/JPY pair is down over 60 pips from the Asian spike to 107.08 highs, still holding up +0.50%.
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