In response to US President Joe Biden’s comments on Taiwan, the Chinese Foreign Ministry spokesperson stepped in with a warning, citing that “no one should underestimate the firm resolve, firm will and strong ability of the Chinese people to uphold national sovereignty and territorial integrity“.
Asked during a Monday press conference in Tokyo whether the United States would be willing to engage militarily to defend Taiwan, Biden said “yes, it’s a commitment we made,” according to Bloomberg.
Biden He added that “we agree with the one China policy, we signed it and all the agreements that were made from there. But the idea that it can be taken by force, simply by force, is not appropriate. It would dislocate the entire region and it would be another action similar to what happened in Ukraine“.
market reaction
The AUD/USD shrugs off the new US-China dispute over Taiwan, and breaks above 0.7100 amid prolonged dollar selling against its main competitors. The Australian dollar is up 1.14% on the day.
Source: Fx Street
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