Early Wednesday morning in Asia, House Speaker Nancy came out with the news conveying the US House Democrats’ release of the America COMPETES Act of 2022.

Among major issues, the US readiness to combat China on various manufacturing and supply issues gains major attention.

FX reaction

It’s worth noting that the bill is yet to reach Senate, not to talk about is it a law, which makes it a little less worrisome issue amid the Fed fears and Russia-linked geopolitical tension.

As a result, the risk barometer AUD/USD pays a little heed to the news and takes rounds to 0.7150 by the press time.

Read: AUD/USD hovers around 0.7150 on Australia Day holiday, focus on Fed