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

  
Analysis, Forex

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:

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