White House considering ending China talks, sanctions if Beijing commits Hong Kong protest crackdown – OANN

Having heard from the Bloomberg that the US is delaying the licenses to do business with China’s Huawei, One America News Network (OANN) came out with another story suggesting the US heating up the trade war.

The news report mentions that the US is considering ending talks with China, holding visas for Chinese students and demanding the removal of Chinese authorities from international organizations if Beijing uses the military to crackdown Hong Kong protests.

FX implications

With the news indicating an escalation of the US-China tension, the market increased preference for risk-safety after the release, supporting the Japanese Yen (JPY) and Gold while staying away from the commodity-linked currencies like the Australian Dollar (AUD), New Zealand Dollar (NZD) and Canadian Dollar (CAD).