“US President Joe Biden on Tuesday called Chinese President Xi Jinping a dictator, adding that Xi was very embarrassed when a Chinese balloon was blown off course over the US recently,” said Reuters early Wednesday in Asia.

The news also shared the details of Biden’s remarks at a fundraiser in California by stating them to be a day after Secretary of State Antony Blinken met Xi on a trip to China. It’s worth noting that Blinken’s latest visit to Beijing was aimed at easing tensions between the two countries.

AUD/USD remains firmer

The news prods the AUD/USD pair’s corrective bounce off a one-week low around the intraday high of 0.6790.

Also read: AUD/USD Price Analysis: Bears seek out the daily 61.8% Fibo