US Pres. Trump signs bill in support of Hong Kong protestors

Early Thursday in Asia, the White House crosses the wires that the United States (US) President Donald Trump recently signed the bill in support of the Hong Kong protesters. The US Congress has already given its go to the Hong Kong Human Rights Bill a few days ago but the bill was on President Trump’s desk before being the law. Now it has the sign, it will be announced as a law, which in turn will trigger China’s harsh reaction and could also spoil the recently improving trade relations between the US and Beijing.

More to come…

FX implications

With the news being ‘A’ list risk event, mainly due to the Chinese part of it, the USD/JPY dropped nearly 15 pips to 109.40 after the release. China has already warned multiple times to the US to not interfere in its “One Country, Two Systems” motto.