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China is accusing India of serious military provocation after an incident of firing reportedly took place overnight on the Line of Actual Control (LAC) in the Eastern Ladakh sector, where troops of India and China are now engaged in a standoff for more than three months. 

Meanwhile, on Monday, India’s military sent a message to China over reports that five Indian civilians were kidnapped in a border state last week.

Further escalation of tensions between the two nuclear powers will likely weaken the risks sentiment and boost demand for safe havens like the US  dollar and the Japanese yen. 

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