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Late-Tuesday, The Sun quotes UK’s foreign secretary Dominic Raab while citing the British support for China’s Uighur Muslims. The report mentioned that the Tory member was criticizing Beijing’s action against the minority group while terming them as “serious and egregious human rights violations”.

The diplomat was considering telling Prince William not to attend the upcoming Winter Olympics in Beijing, due to be held in 2022, on the government’s behalf, as per news.

Mr. Raab also asked for global help while citing proofs of China’s treatment to the minority group. The diplomat said, as per the news, “Certainly, I think the more that we see of that evidence, and I think the more the international community addresses its mind to it, the more I think we do need to look very carefully at what action we take. I think the concerns of what’s happening to the Uighurs – the detention, the mistreatment, the forced sterilization – is something that we can’t just turn away from.”

FX implications

Global markets are already risk-off and the news can offer additional challenges to the trading sentiment. More importantly, the update should add pressure on the GBP/USD further hardships for the British currency due to its diplomatic spat with the world’s second-largest economy. To portray the same, GBP/USD stays pressured near 1.2875 but S&P 500 Futures print 0.15% gains amid the initial Asian session on Wednesday.