Chinese President Xi arrived at Andrews Air Force Base on the afternoon of Sept 23 local time for a state visit to the United States at the invitation of US President Trump. Both leaders said they look forward to in-depth exchanges on major bilateral and global issues. Xi said China and the US should be partners rather than rivals and called for deepening a constructive strategic-stability relationship and expanding cooperation across multiple fields.

The UK will automatically refuse new UK licence applications from designated Iranian banks and will not renew an existing general licence permitting limited business after it expires next month. Affected banks include Sepah Bank, the UK branch of Bank Melli Iran, Saderat Bank, Persia International Bank and Tejarat (Commercial) Bank. The move aligns the UK with a US-led economic pressure campaign initiated by Treasury Secretary Bessent to curb Iran’s links to the global trading system; UK officials say the steps tighten existing sanctions rather than introduce new ones.

On Wednesday the U.S. dollar rose to a two-month high and gold eased after hawkish Federal Reserve remarks reinforced expectations of tighter policy. Dollar strength raised the cost of dollar-priced gold for holders of other currencies. Saxo Bank commodities strategist Ole Hansen said gold remains trapped in a narrow $4,300–$4,400 range and that Fed commentary, its effects on U.S. rates, bond yields and the dollar, plus oil moves, are directing short-term flows. Richmond Fed President Barkin said rate hikes and the prospect of further increases could restrain firms’ inflation expectations and cool price growth without materially depressing activity.