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The Financial Times (FT) recently published comments from the US national security adviser John Bolton while he is on the UK trip.

The news quotes him saying that British officials have told him that Boris Johnson’s government will look from “square one” at the issue of whether the UK should use Huawei technology for its 5G telecoms network.

It was further mentioned that his comments suggest the UK is considering reversing Theresa May’s provisional decision to allow the Chinese telecoms group to build some noncore parts of Britain’s 5G network.  

Additionally, Mr. Bolton was quoted saying that Britain’s new government “appreciated” the US’s views on issues including China, Huawei and Iran.

FX implications

Although no immediate impact could be witnessed, present risk aversion sentiment could be extended due to the same news as it signals Chinese companies being pushed further away not only from the US but from rest of the world (the US request) as well.