AUD/USD Sinks as China Suspends Economic Talks with Australia, Will Support Break?

The Australian Dollar fell as much as 0.6% against the US Dollar after reports crossed the wires that China’s economic planning agency (NDRC) is going to halt activities under the China-Australia Strategic Economic Dialogue ‘indefinitely’, according to Bloomberg. Tensions between the two nations have been brewing. In late April, Foreign Minister Marise Payne nixed two Belt and Road Initiative related deals with China. The reason why this matters for the Aussie Dollar is that China is Australia’s largest trading partner. That means that disruptions between the two nations could be economically consequential. … (full story)

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