White House scales back plans to regulate US investments in China – Politico
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“Despite fraying relations with Beijing, US President Joe Biden is expected to forego expansive new restrictions on American investment in China, denying a push by some hawks in his administration and in Congress,” reported Politico on Monday.
The news quotes five anonymous people on Capitol Hill and K Street with knowledge of the White House discussions while stating that US President Biden is scaling back a planned executive order to oversee American investments in China to focus largely on increasing transparency of those deals.
The news offers an additional reason for the AUD/USD pair to extend the week-start rebound. However, the cautious mood ahead of Australia Retail Sales for January seems to probe the Aussie pair buyers around 0.6730 at the latest.
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