ICYMI - The planned visit to Taiwan by the US' ambassador to the UN has been cancelled

The climb down by the US administration will ease tensions with mainland China somewhat after a recent tense escalation:

• The US is to remove all of its restrictions on its relationship with Taiwan
• US Ambassador to meet Taiwan's President on Thursday (this is the trip that has been cancelled)

The US State Department cancelled official visits overseas this week after EU leaders declined to meet with US Secretary of State Pompeo. The Dept. says its because they are planning the transition.

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To the extent the US escalation with China impacted AUD (China kicks Australia as a proxy for the US) the back down by the State Dept. is a positive for AUD assets.