Biden on the Xi phone call:
The earlier headlines on the Xi-Biden phone call are not too instructive. They are indicative of a return to normality after the confused indecision of the previous administration. The thaw will be slow though.
See also the post on the US reviewing the trade relationship - further signs they reduction in tensions will be a slow process. But, at least there is a process. For the FX space there is likely to be a scaling back in Australia-China strains alongside which should be (further) AUD supportive.
