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After the US and Australia held high-level talks on China, the Australian Foreign Minister Marise Payne came out on the wires, via Reuters, noting that they have has no intention of hurting thier relationship with China.

Additional quotes

“Agreed on the need to uphold a rules-based global order.”

“United States and Australia shared a commitment to the rule of law and had reiterated their commitment to hold countries to account for breaches, such as China’s erosion of freedoms in Hong Kong.”

“But Australia did not agree on everything with Beijing – or with the United States.”

“The relationship that we have with China is important. And we have no intention of injuring it” 

“But nor do we intend to do things that are contrary to our interests.”

Market reaction

The market mood remains fragile amid growing coronavirus-led economic concerns and mixed Asian equities. Therefore, the upside in the AUD/USD pair remains capped below Monday’s low.

Markets also weigh in the mixed Australian quarterly inflation data. At the press time, AUD/USD trades 0.13% highs near 0.7165 while S&P 500 futures hold steady around 3215.