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The US has abruptly informed China to close its consulate in Houston in the next 72 hours on Tuesday, July 21.
The geopolitical tensions intensified on this news, as China’s foreign ministry urged the US to correct this mistake, or otherwise, there will be retaliation.
The State Department’s spokesperson Morgan Ortagus said in a statement on Wednesday that this decision is meant to protect intellectual property and private information, adding that the US won’t “tolerate China’s violation of US sovereignty”.
The heightened geopolitical tensions are weighing on the market sentiment, turning it to risk-off mood in today’s trading.
The haven demand is back around the US dollar. The dollar index, measuring USD against a basket of currencies, gained back some of its losses and was trading up 0.2% at 95.2, close to 4 month lows.
