The extension removes a near-term cliff risk for Asian assets, with the truce otherwise due to expire in November, and should underpin the yuan and China-sensitive currencies such as the Australian dollar. Because an extension was widely signposted, the bigger swing factor is whether the summit produces the broader deal Beijing floated or simply a rollover.
The extension removes a near-term cliff risk for Asian assets, with the truce otherwise due to expire in November, and should underpin the yuan and China-sensitive currencies such as the Australian dollar.
Because an extension was widely signposted, the bigger swing factor is whether the summit produces the broader deal Beijing floated or simply a rollover.
Rare earth flows are the key pressure point to watch, given the US view that China has not fully honoured its commitments.
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The extension removes a near-term cliff risk for Asian assets, with the truce otherwise due to expire in November, and should underpin the yuan and China-sensitive currencies such as the Australian dollar. Because an extension was widely signposted, the bigger swing factor is whether the summit produces the broader deal Beijing floated or simply a rollover. Rare earth flows are the key pressure point to watch, given the US view that China has not fully honoured its commitments.
The announcement came as Chinese President Xi Jinping arri...
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