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The US Transportation Department said late Tuesday, it will allow four Chinese passenger airlines currently flying to the US to double flights to eight weekly round-trips, per Reuters.

This comes as China agreed to allow US carriers to double flights.

Additional headlines

The US government still hopes China will agree to restore full US flight rights under their bilateral aviation agreement.

China allows additional flights it will respond in kind.

Market reaction

The above piece of news has little to no impact on the risk sentiment, as a sense of caution prevails ahead of the US Federal Reserve (Fed) monetary policy meeting’s minutes.

AUD/USD is off the yearly highs and keeps its range below 0.7250 while the S&P 500 futures trade close to record highs of 3,397.