The Biden administration has warned China that additional export restrictions on AI chips and chipmaking tools to China are due early this month, per
Reuters. This would be an update around the one-year anniversary of the initial unveiling of the measures on October 7, 2022.
The restrictions announced last October aimed to prevent US technology from being used to strengthen the Chinese military by limiting China's access to advanced AI chips and imports of the US' most advanced chipmaking tools.This headline had little to no impact on the Australian Dollar’s performance against its rivals. At the press time, AUD/USD is losing 0.07% on the day to trade at 0.6358.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.The AUD/USD pair consolidates its recent losses above the mid-0.6300s during the early Asian session on Tuesday. Traders prefer to wait on the sidelines ahead of the Reserve Bank of Australia monetary policy meeting on Tuesday.EUR/USD continued to face downward pressure and dropped below 1.0780, reaching the lowest intraday level since December of last year.
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