Xi has accused the United States of interfering in its internal affairs

The good news in US President Trump announcing that the deal with China may be signed soon has been superseded by a Reuters news that stated that Xi had accused the United States of interfering in its internal affairs.

The two leaders spoke a week after their envoys sealed a “Phase 1” agreement aimed at ending an 18-month trade war that has rattled markets and raised tensions.

Trump announced the phone call in a tweet. A White House official said they spoke on Friday morning. China Central Television said Xi spoke to Trump at the request of the U.S. president.

“Had a very good talk with President Xi of China concerning our giant Trade Deal. China has already started large scale purchase of agricultural product & more. Formal signing being arranged. Also talked about North Korea, where we are working with China, & Hong Kong (progress!)” Trump tweeted,

– a Reuters article read. 

FX implications

AUD/JPY is giving back some ground in the open, down in a range of between 75.61 and 75.22.

• Charts of the week: AUD/JPY & GBP/USD move to critical levels, extensions likely