Aussie Treasurer Josh Frydenberg crossed wires while speaking at a Citi bank conference during the early Wednesday morning in Asia. The Aussie diplomat confirms the recently strained relationship with its biggest customer China while also highlighting the importance of the same.
The Treasury head mentioned that linkages with China are vitally important to Australia while also saying that the relationship is mutually beneficial.
AUD/USD frets about it…
While Beijing’s latest coal ban from Australia might have pushed the Aussie policymaker towards these comments, global markets couldn’t get any policy direction from the speech. Late on Tuesday, Australia’s Prime Minister Scott Minister sought clues, as per The Guardian, about China’s latest ban on coal imports. The update also mentioned that the Aussie PM called China to end the freeze on ministerial talks as concerns grow about widening trade tensions.
That said, AUD/USD remains mostly unchanged while keeping its pullback moves from a multiday low of 0.715 marked the previous day, currently around 0.7163.
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