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In a statement, the U.S. State Department has said it will impose visa restrictions on Chinese officials for treatment of Muslims in Xinjiang.

More:

  • U.S. State Department says visa restrictions follow Monday’s announcement of export restrictions on 28 Chinese entities.
  • U.S. State Department says visa restrictions target Chinese government and communist party officials believed responsible for the detention and abuse of Muslim minorities.

FX implications:

This has come on the same week as the US is supposed to be hosting Chinese officials to find a solution to the trade war saga. Investors are responding in kind and risk asset classes are supported. The Yen and GBP are the strongest currencies currently.