Citing a senior government source, Reuters reported on Wednesday, the White House is said to outline plans restricting some US investments in sensitive technology in China.

The source said that the long-awaited executive order is expected sometime later today.

This comes after Bloomberg quoted anonymous sources on Tuesday, saying that “a US plan to restrict investment in China is likely to apply only to Chinese companies that get at least half of their revenue from cutting-edge sectors such as quantum computing and artificial intelligence (AI).”

Market reaction

AUD/USD is unfazed by the renewed US-Sino tensions, keeping its range above 0.6550, as of writing. The pair is up 0.20% on the day.