China confirms to close its Houston consulate on US demand, warns of retaliation
Comments by the Chinese foreign ministry
This builds from the news from Global Times editor, Hu Xijin, earlier:
- US has abruptly informed China to close its consulate in Houston
- China strongly condemns this "outrageous" move
- Urges the US to correct its wrong decisions or there will be retaliation
Once again, this plays into the ongoing geopolitical tensions between the two countries.
The headline here is knocking some wind out of the sails of risk trades with European equities seen a little lower and we are also seeing the dollar firm across the board. The PBOC story from earlier is also something to be mindful about.
EUR/USD is now down from 1.1540 to a session low of 1.1516 while AUD/USD has pared most of its gains in a drop from 0.7168 to 0.7132.