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Amid the on-going Sino-American tussle, the Trump administration silently eased stance towards China and Hong Kong. This comes after the “US State Department said on Monday it had eased a travel advisory for Americans considering travel to China or Hong Kong from ‘Do Not Travel’ to ‘Reconsider Travel.’, as per Reuters.
Key quotes
The State Department cited COVID-19 and arbitrary enforcement of local laws in issuing the ‘Reconsider Travel’ warning, but also said China has ‘improved conditions.’
The department in June had issued its highest ‘Do Not Travel’ Level 4 warning but announced Monday it was lowering it to ‘Level 3.’
FX implications
Amid the currently risk-on market mood, as portrayed by 0.10% gains of the S&P 500 Futures, news like this adds to the optimism. However, a heavy calendar keeps the traders cautious and hence the AUD/USD prices remain subdued near 0.7300.