Australian Trade Minister Simon Birmingham tries to de-escalate the fresh tensions between Australia and China by saying, he “believes Australian meat exporters having “minor technical breaches” with China.”
“Clear that exporters ought to be able to resolve these issues.“
“There should be a thorough investigation and inquiry into coronavirus breakout.”
“Believes suspension of Australian exports not related to coronavirus inquiry.“
“No case that Australia’s grain growers are remotely subsidized by government in any way.”
In light of the above conciliatory remarks, AUD/USD is looking to extend the bounce above 0.6450, having hit a three-day low at 0.6432 after China announced a ban on the meat imports from four Australian abattoirs.