|Day's Range||6.765 - 6.811|
|52 Week Range||6.2342 - 6.811|
The gap between the onshore and offshore-traded Chinese yuan is growing, offering evidence that the People’s Bank of China is not willfully devaluing its currency, says Dankse Bank chief analyst Allan von Mehren.
Investing.com - U.S. President Donald Trump indicated that he is ready to impose tariffs on $500 billion worth of Chinese goods to the U.S. if China does not back down on its trade policies and shrugged off the impact on the stock market, sending waves through U.S. equities.
The U.S. dollar gets pummeled early Friday following fresh comments by President Donald Trump, who accused China and the European Union of currency and interest-rate manipulation that he says has put the U.S. at a disadvantage.
The U.S. dollar took a hit on Friday after President Donald Trump called China and the European Union currency and interest rate manipulators in a tweet. Trump that "while the U.S. is raising rates while the dollars gets stronger and stronger with each passing day," China and the eurozone were robbing the U.S. of its "big competitive edge." The ICE U.S. Dollar Index (DXY) dropped 0.5% to 94.674, extending previous losses. China's yuan was more timid in response.
The U.S. dollar fell on Friday after U.S. President Donald Trump criticized the Federal Reserve for increasing interest rates but was still on target for a second week of gains. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.15% to 94.84 as of 5:36 AM ET (9:36 GMT). Despite the dip, the dollar was on target for a second straight week of gains and has risen more than 5% in the last three months due to expectations that interest rates will rise.
Investing.com – Oil prices edged higher on Friday as comments that Saudi Arabia’s exports would fall in August renewed expectations for a global shortage in crude supplies.
Investing.com – The yuan slumped further on Friday after the China’s central bank weakened its daily reference rate by the most since June 2016.
Trade wars rattle global currency markets, but the degree by which foreign exchange trading has been impacted is perhaps most easily observed through the effect on Japan’s yen, says Credit Suisse trading strategist Alive Marino.
Much like Blanche DuBois in Tennessee Williams’ play “A Street Car Named Desire,” the U.S. has “always depended on the kindness of strangers,” or at least it has for quite a long time. President Donald Trump’s escalation of the trade war between the U.S. and all our major trading partners has raised concerns that foreigners will respond to Trump’s “America First” protectionism by cutting back on their purchases of U.S. debt. Furthermore, Trump’s tariffs may boost inflation in the U.S. by increasing the cost of imports.
Investing.com - The dollar hit one-year highs against a currency basket on Thursday, sending the euro below the $1.16 level after bullish comments be Federal Reserve Chairman Jerome Powell cemented expectations for two more rate hikes this year.
Investing.com - The dollar rose against a currency basket on Thursday, to trade near one-year highs after hawkish comments by the chairman of the U.S. Federal Reserve underlined expectations for two additional rate hikes by the central bank this year.
Investing.com - The Australia’s dollar rose on Thursday after data showed the country’s employment surged in June, while the Chinese yuan fell after the central bank weakened its fixing beyond 6.7 for the first time since the currency began tumbling in June.
Stephen Bannon, former White House chief strategist and CEO of the Trump campaign, said he believed a trade war with China would result in victory for the U.S. "Victory is if they give us access to their markets," he said at CNBC's Delivering Alpha conference Wednesday in New York. The trade spat between the U.S. and the People's Republic of China has been characterized by actualized and threatened tariffs on imported goods. Tariffs would be positive for the U.S. economy and would bring manufacturing jobs back to the country, Bannon said.
Investing.com – The dollar strengthened on Wednesday as Federal Reserve Chairman Jerome Powell presented a positive assessment of the U.S. economy during his semi-annual congressional testimony on Tuesday.
Donald Trump and Vladimir Putin meeting in Helsinki was more of a show than a political event. Yet, there were a number of key takeaways that the two managed to achieve.
Is Trade War Really A Good Thing For The US? The uncertainty surrounding the trade war between the U.S. and China has eased recently after the two world largest economies have signaled their intention to sit at the negotiation table. In addition, investors also started to realize that the effects of tariffs have substantially exaggerated.
The U.S. dollar advances to a fresh six-month high against the Japanese yen on Thursday, following news that trade talks between the U.S. and China are said to resume as the world’s largest economies are throwing their weight around.
Investing.com – The Dollar firmed against its peers and traded near a six-month high against the yen on Thursday as the U.S. Labor Department's expectation-beating inflation report boosted confidence in the world's top economy.
The U.S. dollar strengthens against most of its major rivals Wednesday following fresh consternation over President Donald Trump’s clashes with major trading partners and allies across the globe.
The United States aims for specific key manufacturing export industries like cotton, steel, and Refrigerators. The reason behind the potential tariffs on these goods is to target the metal products, auto parts as well as the electronics and textile manufacturers.
Invesing.com – The yen climbed while the Aussie and the yuan retreated after the U.S. said it would impose tariffs on an extra $200 billion worth of Chinese imports on Tuesday.
Investing.com – The Chinese yuan continued to rebound from multi-month lows while the U.S. dollar remained flat in morning trade in Asia Tuesday.