AUD took a hit lower on China suspending its Strategic economic dialogue with Australia

Australia has been calling out China on its human rights abuses.

China has taken a petty revenge today with:

• China's state planner will suspend China-Australia economic dialogue

The Australian dollar took an immediate hit lower, China is a huge export destination for Australia's iron ore:

As a bit of an explanation, the Strategic economic dialogue with China is aimed at strengthening Australia's economic and trade relationship with Chin:

• growing trade and investment with China
• opportunities for Australian and Chinese businesses to cooperate
• further increasing trade and investment with China will drive economic growth in both countires

China's NDRC (the CCP state planner) has thrown this away for political recrimination reasons.