China Commerce Ministry retaliates US order limiting technology investments

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In a reaction to the US executive order banning certain investments in Chinese technology companies, China’s Commerce Ministry showed grave concerns and marked the rights to take measures in retaliation early Thursday in Asia, per Reuters.

The news also quotes China Commerce Ministry as saying, “Hopes that the US will respect laws of market economy and the principle of fair competition.”

Market reaction

The news dragged AUD/USD from an intraday high to 0.6530 but lacks a major reaction from the market.

It’s worth noting that the market’s recent lack of reaction to the news could also be linked to the cautious mood ahead of the US inflation, as well as the fact that the US order to limit foreign investments in China is a softer version of the previously announced harsh measures.

Also read: AUD/USD stays depressed below 0.6550 ahead of Australia/US inflation clues