Search ForexCrunch

While addressing a regular press conference on Wednesday, Japanese Chief Cabinet Secretary Yoshihide Suga said his government is strongly concerned about the situation in Hong Kong.

China’s new national security laws for Hong Kong has drawn a lot of condemnations globally, with the US threatening sanctions against the Chinese officials, in lieu of Beijing’s forceful measures.

China’s Foreign Ministry said earlier today, they will take necessary countermeasures to foreign interference. Meanwhile, Hong Kong’s riot police fired pepper pellets on protesters in the main business district.

Market implications  

The market mood remains lifted on hopes for a post-COVID-19 EU recovery plan, propelling the European shares higher alongside the US equity futures.

USD/JPY jumps back on the bids and trades at daily highs near 107.70. AUD/USD, however, struggles to pull off the bounce above 0.6650 amid escalating US-China tensions.