NZ PM Ardern: Differences with China are 'becoming harder to reconcile'

While speaking at the China Business Summit in Auckland on Monday, New Zealand Prime Minister Jacinda Ardern called on Beijing to act in a way that is consistent with its responsibilities as a growing power, per New Zealand media.

Additional comments…

“Managing the relationship is not always going to be easy and there can be no guarantees.”

“It will not have escaped the attention of anyone here that as China’s role in the world grows and changes, the differences between our systems – and the interests and values that shape those systems – are becoming harder to reconcile.”

FX implications

Although the news favored NZD/USD pullback from the intraday top, off in China and Japan restricts the market reaction of the otherwise important update.

Read: NZD/USD Price Analysis: Daily resistance is compelling