The Ministry of Foreign Affairs of China issued a statement on the 15th, and expressed “strong criticism” in the Hong Kong Autonomy Law enacted in the United States. In retaliation, he indicated a policy of implementing sanctions on US officials and organizations. Emphasizes that “China will respond resolutely” to US sanctions
The US-China conflict is intensifying. If China has a situation in which access to the US dollar is restricted in the future, it will hurt China.
Considering that if there is a risk, whether it is actually restricted or not, it is possible to use EUR, GBP, JPY, etc. as alternative international payment currencies. Considering that GBP and JPY are completely on the US side, and considering the scale of the currency, it is reasonable to think that they will flow to EUR.
In other words, we believe that there is a possibility that EUR buying will come in from the above aspects.