Trump's Tweets Aren't Expected to Hold Down the Dollar
25 July, 2018, 02:17 | Author: Elaine Woods
Trump's combative stance has compounded fears of an all-out trade and currency war, with the United States slapping tariffs on steel and aluminium from the EU, Canada and Mexico, in addition to levies on goods from China worth tens of billions of dollars.
The New Zealand dollar fell as mounting speculation the Bank of Japan will adjust its extraordinary stimulus programme drove up USA government bond yields and as Chinese authorities added more support to lenders.
In other news, hedge funds and money managers switched to a net short position in COMEX gold contracts for the first time since 2016 in the week to July 17, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.
Meanwhile, the People's Bank of China injected 502 billion yuan into its market through a medium-term lending facility, giving Chinese lenders greater liquidity by letting them borrow from the central bank.
It was last down 0.2% at 94.27, the lowest in more than two weeks.
There was some respite for gold last week when U.S. President Donald Trump branded the dollar's strength as bad for the economy, knocking the currency from one-year highs, but the breather proved short-lived.
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In early trade Tuesday, the yield on 10-year Chinese government bonds jumped 5 basis points to 3.57 percent, and were last seen at 3.56 percent. But concerns about U.S.
Shrugging off the weaker yuan, China's stock markets rose as investors cheered the prospect of policy easing and picked up bargains.
Trump's criticism of currency manipulation by China and the European Union and media reports suggesting that the Bank of Japan is considering modifying its ultra-loose monetary policy also added to the dollar's weakness. The Shanghai Composite index .SSEC and the blue-chip CSI300 index .CSI300 both closed up 1.6 percent.
But China's Foreign Ministry denied the charge during a daily briefing in Beijing, saying the yuan's rate was determined by market forces.
In the past month, the yuan has weakened about 4.5 percent against the dollar, despite the PBOC's governor, deputy governor and the head of the banking and insurance regulator having each expressed confidence in the currency and stressing that China does not plan to devalue to gain a competitive advantage.
"The market took the news as a possible sign the anchor at the long end may allow for some natural drift higher", ANZ said in a note to clients. In some relevant currency pairs, the Japanese Yen returned to vogue as traders sought safe havens, falling from above 1.13 all the way back to 111.40 against the USD at time of writing; and the AUD/USD rebounded 0.7 per cent following two days of being trounced to now trading back over the 0.7400 handle.
President Trumps lawyer Michael Cohen exits the US Federal Court on April 16, 2018, in Lower Manhattan, New York . Yet "it remains murky whether and when a NY lawyer can ethically tape without advance disclosure", Harris said.
Google illegally paid manufacturers to preinstall its Search app exclusively , protecting its search business from competition. The company also limited the ability of manufacturers to sell phones running alternative versions of Android.
They have been recovering in hospital since they were rescued over three days last week and will discharged on Thursday. They planned to be in the cave for an hour, but flood waters forced them deeper into the cave until they were stranded.
In addition, there may be some vivid lightning and damaging, straight-line wind gusts within any of these storms. The next rain and storms chance is very slim with an isolated possibility on Sunday mainly in the afternoon.
Following the change, Tesla buyers will only be eligible to receive the full $7,500 federal tax credit until December 31. People walk past a showroom outside Tesla China headquarters at China Central Mall in Beijing, China July 11, 2018.
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Montreal has thrown out three different starting quarterbacks this season and boasts the worst offense in the CFL. In a recent interview, he said he's been diagnosed with bipolar disorder and has stopped drinking.
President Donald Trump is criticizing the Federal Reserve as well as some of the largest US trading partners over monetary policy. But despite Trump's comments, the Federal Reserve has long maintained that politics don't influence its decision making process.
When Sinatra shot to fame in the 1940s, the couple relocated to Los Angeles, where their youngest daughter Tina Sinatra was born. Nancy devoted herself to family and friends and withdrew from the showbusiness spotlight after her divorce from Sinatra.
The boat capsized Thursday evening when a thunderstorm hit the area and brought winds that approached near-hurricane speeds. He said it is unknown whether the captain or Ride the Ducks staff checked the forecast prior to going on the lake.
Sarri's first game at the helm is scheduled to be the July 23 friendly against Perth Glory in Western Australia. And an excited Sarri believes the squad is close to the level he wants before the new campaign gets underway.
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