FX

China releases a whitepaper on the Taiwan situation

According to a state media outlet, China released a whitepaper on the Taiwan situation this Wednesday.

Key takeaways

China reiterates its policy of ‘one country, two systems’ for Taiwan.

China says it will not rule out the use of force.

US House Speaker Nancy Pelosi said Tuesday on NBC’s “Today” show that members of Congress won’t be intimidated by China’s reaction to her visit to Taiwan and that Chinese President Xi Jinping was acting “like a scared bully.”

Market reaction

At the time of writing, AUD/USD keeps its range near daily lows of 0.6947, undermined by softer Chinese inflation, China-Taiwan conflict and pre-US inflation amenity.

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