Yellen-Liu virtual meeting was part of efforts to maintain open lines of communication

The US Treasury Department releases a statement, with their take on the virtual call between Chinese Vice Premier Liu He spoke with Treasury Secretary Janet Yellen held earlier this Tuesday.

Key takeaways

Yellen – Liu He virtual meeting was part of efforts to maintain open lines of communication.

Discussed macroeconomic and financial developments in the US and China, the global economic outlook and food security challenge.

Yellen raised concerns including the impact of Russia’s war against Ukraine on the global economy and also on ‘unfair, non-market PRC economic practices.

Market reaction

AUD/USD is off the highs, preserving a major part of the latest gains of the RBA rate hike verdict.

The pair is currently trading at 0.6877, retreating from 0.6896 highs, still up 0.16% on the day.

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