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USD/CNH Dips on US/China Video Call

CNH

    China's Deputy PM Liu He and US Treasury Secretary Janet Yellen have held a video call, which took place on Tuesday morning China time, according to the China Commerce Ministry.

    • A variety of issues were discussed around including global supply chain issues, the broader economic situation, and tariffs.
    • A headline also crossed that China expressed concern on possible US tariff rollback. This comment looks to be made in the context of China being concerned around existing tariffs being lifted and fair treatment of China enterprises.
    • In any case, the talks were reportedly constructive though, while the Commerce Ministry also noted they were paying attention to possible tariff rollback and communications would continue.
    • This follows the overnight reports that the US administration was considering tariff roll back.
    • USD/CNH dipped towards 6.6800, but has now edged back above 6.6850.
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