I don’t know what’s behind
The Senate passed a bill to strengthen surveillance of Chinese control. They would not have to certify any foreign government controls and this could force some to withdraw. It was adopted unanimously and it is a key detail. Chinese ETFs fall on the news.
It shouldn’t come as a surprise, but Trump also tweeted harsh remarks against China today.
None of this is really new and the sale has just hit the London close, so I would be more likely to take stock. What is interesting is that yesterday’s reversal hit at about the same time.
So far, the movements have not been huge, but they are certainly noticeable and a weak weakness in stocks has also occurred.
Here is the AUD / USD and it was a fairly quick drop of 20 pip: