Suspension of beef imports from Australia is not linked to coronavirus-linked dispute
Forex News

Suspension of beef imports from Australia is not linked to coronavirus-linked dispute

China’s Foreign Ministry is out with a statement after Beijing banned beef imports from Australia’s four abattoirs earlier this Tuesday.

The Ministry clarified that the suspension of beef imports from Australian firms is not linked to the coronavirus-related dispute. It is to protect the customers.

The customs found beef products from certain Australian firms violating the inspection requirements, Foreign Ministry reported.

Market reaction

The market mood still remains tepid, as traders fail to buy into the Chinese comments on the trade situation.

AUD/USD keeps losses near 0.6470 while USD/JPY still trades with small losses at 107.60.

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