China’s Caixin recently came out with the news report while quoting the dragon nation’s Minister of Commerce Zhong Shan as showing readiness to take measures to promote trade developments. The news follows earlier upbeat comments from the United States’ (US) Trade Secretary Wilbur Ross.
Key quotes
“Specific policy measures to promote the high-quality development of trade will be introduced soon.”
“Affected by factors such as slowing global economic growth, fluctuations in international financial markets, and adjustments in monetary policy in developed countries, global demand has continued to weaken, geopolitical complexity has changed, and uncertainties have increased significantly.”
FX implications
With the Chinese diplomat following the footsteps of the US lawmakers, chances are high that the present risk aversion gets healed soon. As a result, the Antipodeans could regain their strength while traditional safe-havens might have to trim recent gains.
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