Chinese Military: Drills continue around Taiwan on Monday

The Eastern Theater Command of China's People's Liberation Army said on social media Weibo that it is continuing drills in the seas and skies around T  |  08/08/2022 04:58

The Eastern Theater Command of China's People's Liberation Army said on social media Weibo that it is continuing drills in the seas and skies around Taiwan on Monday.

The military has carried out an unprecedented set of naval and air force drills in areas near Taiwan following US House Speaker Nancy Pelosi's visit to the island.

China’s Foreign Ministry announced on Friday, “we will sanction US House of Representative Speaker Nancy Pelosi over the Taiwan visit.”

Market reaction

Risk sentiment remains tepid so far this Monday, as the S&P 500 futures trade 0.07% on the day. The AUD/USD pair is ending its recovery towards 0.6950 amid a broad US dollar retreat after Friday’s solid upsurge backed by the bumper payrolls.

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