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Early on Monday, China’s Global Times tweeted updates of a meeting between China’s Defence Minister Wei Fenghe and the United States (US) Defence Secretary Mark Esper. The Chinese media said that both the defence personnel agreed over the military relations as a crucial part of China-US ties.

Key quotes

“Chinese Defense Minister Wei Fenghe met with US Defense Secretary on Monday in Bangkok, both agreeing military relations are a crucial part of China-US ties, and that the two militaries should contribute to pushing for cooperation and stability together.”

FX implications

Considering both the nation’s progress at the trade front and disagreement over Hong Kong protests, statements like this could positively contribute to the market’s risk sentiment. With this, the US 10-year treasury yields seesaw near 1.82% while stocks in China stay positive by the press time.