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Biden confirms US intention to compete with China, not seeking conflict

Mohamed Abdelhamid 9 February, 2023 3:12 am Forex Market, Market Update

US President Biden confirmed that relations with China have not taken a big hit. “We intend to compete completely with China but we are not seeking conflict, as that has been the case so far,” Biden said during a PBS interview late Wednesday.

Biden’s comments join the recent statements from US Treasury Secretary Janet Yellen to tame the fears emanating from Sino-American ties.

This US trend appears to have put a floor under the riskier AUD/USD pair around 0.6920, following the pair’s reversal from the weekly high the previous day.

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