According to a story carried by the South China Morning Post (SCMP), Australian Treasurer Josh Frydenberg said that deteriorating diplomatic relations with China would not hinder the progress of the Regional Comprehensive Economic Partnership (RCEP).

“Australia will continue to advocate behind closed doors for an agreement that suits its interests,” Frydenberg said last week.

Separately, the Australian Department of Foreign Affairs and Trade also said last Wednesday that there was no change in Australia’s commitment to sign RCEP.

Market reaction

The headlines above seem to be ignored by AUD bulls, because AUD / USD holds a higher position amid optimistic market conditions.

At the time of the press, AUD / USD was trading with a 0.32% increase around the 0.6970 region.

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