US Dept. of Commerce is expected to extend waiver for blacklisted firm Huawei – Politico

Early Friday morning in Asia, Politico ran news that the United States (US) Department of Commerce is expected to extend a limited, temporary waiver for blacklisted firm Huawei. The story also mentioned that the department is less likely to respect any last-minute directives from the White House. It was also mentioned that the fate of broader export licenses providing relief for the major US chipmakers remains unclear.

FX implications

With the recent trade statements showing progress in the US-China phase one talks, markets are likely to witness recovery in the risk sentiment. However, any strong news is yet to cross the wires and hence have failed to support the Antipodeans.