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Reuters reports the latest statement released by the Chinese Foreign Ministry, responding to the new US rules against five Chinese media entities.

Key quotes

Firmly opposes new US rules against 5 Chinese media entities.

Urges the US to leave its cold war mentality.

China has right to respond to US actions.

On Tuesday, the Trump administration announced that it will begin treating five major Chinese state-run media entities with US operations the same as foreign embassies, requiring that they register their employees and properties with the State Department.

Market implications

The above-mentioned fresh round of conflict between the US and China fails to temper the risk sentiment, which remains buoyed by the fading worries over the coronavirus impact.

The USD/JPY pair extends the break above the 110 mark, tracking the gains in the S&P 500 futures and Treasury yields while the AUD/USD pair struggles around 0.6700 heading into the Australian jobs data due on Thursday.