Global Times editor: China and US didn't hold phone talks in recent days

Comments by Global Times editor-in-chief, Hu Xijin

The tweet reads:

"Based on what I know, Chinese and US top negotiators didn't hold phone talks in recent days. The two sides have been keeping contact at technical level, it doesn't have significance that President Trump suggested. China didn't change its position. China won't cave to US pressure."

That is leading to a bit of a retracement in risk assets again. USD/JPY has fallen from levels just under 106.00 to 105.70 currently. For some context, Hu is often seen as a soundboard to the international community from the Chinese camp.

Though once again, I would still chalk this to more of a case of not confirming Trump's earlier remarks rather than outright denying them. However, I reckon his remarks on China not changing its position or caving to US pressure holds true.