XE Market Analysis: North America – May 22, 2020

The dollar and yen are in outperforming mode as global stocks drop as China, at its annual National People’s Congress, confirmed that there will be a bill establishing “an enforcement mechanism for ensuring national security” for Hong Kong. U.S. President Trump had earlier said he would “react strongly” if Beijing proceeds with this plan, which will quash democracy in the Special Administrative Region and break the 50-year “one country, two systems” agreement made with the UK at the 1997 handover.

Source: XE news feed
XE Market Analysis: North America – May 22, 2020