China’s Vice Foreign Minister: We have achieved some progress in trade talks with the US

In addition to the previous comments, China’s Vice Foreign Minister followed the footsteps of the United States (US) President who earlier spread optimism surrounding the US-China trade deal.

Key quotes

“We have achieved some progress in trade talks with the US.”

“Hopeful an agreement will be reached.”

“We should be partners with the US for cooperation.”

“As long as we respect each other no problems that cannot be resolved by China and US”

“Pressure on China doesn’t work.”

“China not looking to replace anyone.”

FX implications

In a stark difference from his earlier comments, the latest statements add to the current US-China trade optimism and could support further upsides of the Dollars of Australia, New Zealand and Canada.