Japan urges caution over Trump's complaint on strong dollar

Asked whether investors should be concerned about the prospects of a currency war Mnuchin said “no,” declining to elaborate

Gold was further supported after Trump threatened China with additional tariffs, claiming he was ready to go all-in and impose on tariff on every product they export to the United States.

Inside China, the yuan can trade 2 per cent on either side of a daily fixing set by the central bank; a freely traded offshore rate tends to track it.

The pan-European FTSEurofirst 300 index lost 0.15 percent, amid rising trade tensions. The European currency traded 0.1 percent down at 1.1710, having touched a high of 1.1749, its highest since July 11.

USD/CHF: The Swiss franc rallied to a 2-week peak as worries over trade tensions lingered following Washington's threat last week to impose tariffs on $500 billion of Chinese imports.

"The impact of the trade war and the recognition that President Trump and his administration are serious about going to the mat on this issue is finally starting to register in the consciousness of traders and investors in oil and other financial markets", said Greg McKenna, chief market strategist at AxiTrader.

Japan's Nikkei stumbled 1.3 per cent while South Korea's Kospi index slipped 0.8 per cent. "We have been ripped off by China for a long time".


MSCI's gauge of stocks across the globe gained 0.37 percent, helped by Asian markets. The Reuters report also added to the yen's strength, which was last up 0.3 percent at 111.07 per dollar. In a tweet the same day, he accused China, the European Union and other countries of "manipulating their currencies and interest rates lower". They also said that China's financial markets had higher expectations for easing monetary policy as signs of economic slowdown emerged.

Roberto Perli, a partner at Cornerstone Macro LLC and a former Fed economist, says Trump's criticism of Fed rate hikes actually may have improved the likelihood that policy makers tighten as planned, to drive home their independence. "The Fed will keep tightening and the worsening deficits will keep Treasury supply increasing", which will keep USA yields attractive to global investors, supporting the greenback. Brent eased 17 cents to $72.90.

US crude was last off 16 cents at $68.1 a barrel after posting its third straight weekly loss.

Spot gold was barely changed at $1,231.8 an ounce.

Elsewhere in Canada, the Loonie rose against its USA counterpart despite the weaker inflation data in the country where the annual Canadian CPI came lower than expected by 0.1 to be steady at 1.3 percent. The German 10-year bond yields, which move inversely to its price, rose 1 basis point to 0.38 percent, the yield on 30-year note also edged higher by 1 basis point to 1.04 percent and the yield on short-term 3-year traded tad higher at -0.49 percent.

Related News:

  • Ritz products recalled over Salmonella concerns

    Anyone with questions can contact the company directly Monday through Friday from 6 a.m.to 3 p.m. local time at 844-366-1171. The Canadian Food Inspection Agency has notified the public of the recalls from No Name and Christie brand products (CFIA).
    Comcast focuses its attention on taking over Sky

    Comcast focuses its attention on taking over Sky

    Comcast's chances of buying Fox got even worse on June 27 when the Department of Justice gave its approval to the Disney/Fox deal. Fox's current bid for the remaining shares of Sky would add $19.5 billion to Disney's acquisition costs, Greenfield calculates.
    Here's Why Google Has to Pay a $5 Billion Android Antitrust Fine

    Here's Why Google Has to Pay a $5 Billion Android Antitrust Fine

    Google prevented Android phone makers from selling devices that run "forked" versions of the operating system. The ecosystem carries all the properties needed for a fair competition - "rapid innovation and lower prices".
  • After Helsinki, Trump boasts of reinforcing North Atlantic Treaty Organisation

    After Helsinki, Trump boasts of reinforcing North Atlantic Treaty Organisation

    A Montenegro undefended by American troops is not a gateway to Russian dominance. "I understand what you're saying". In its 12 years of independence, the tiny country has not once come close to starting a war.
    European Union  antitrust regulators fine Google record US$5 billion

    European Union antitrust regulators fine Google record US$5 billion

    Phone makers don't have to include our services; and they're also free to pre-install competing apps alongside ours. Blumenthal previously called on regulators to investigate how Google tracks users of Android phones.
    University Of Louisville To Remove Papa John's From Stadium Name

    University Of Louisville To Remove Papa John's From Stadium Name

    The University of Louisville is renaming Papa John's Cardinal Stadium effective immediately, the school announced Friday. Schnatter remains on the board and is still the company's largest shareholder with almost 30 per cent of the stock.
  • 'Whatever bulls*it you say, no one forgets' - Klopp defends spending comments

    'Whatever bulls*it you say, no one forgets' - Klopp defends spending comments

    Therefore, the arrival of Brazilian stopper Alisson this week from Roma in a £67 million deal comes as little surprise. Fast forward two years - and well over £300 million later - Klopp has admitted that he has had a change of opinion.
    Tekashi69 Pistol Whipped, Kidnapped, Robbed and Hospitalized

    Tekashi69 Pistol Whipped, Kidnapped, Robbed and Hospitalized

    The rapper known as Tekashi69 says two men forced him from a vehicle at an intersection and robbed him of jewelry. The gunmen then allegedly drove the rapper around NY , demanding various amounts of money and jewelry.
    Belgium vs. England - Football Match Report

    Belgium vs. England - Football Match Report

    His decision-making in the final third remains erratic, but he was unlucky not to be given more than 45 minutes to make an impact. GK Thibaut Courtois , 7 - Now the most capped Belgian goalkeeper ever with 65.
  • UK PM urged to tear up her Brexit plan

    UK PM urged to tear up her Brexit plan

    He signalled that "the problem is not that we've failed to make a free trade agreement, the problem is that we haven't tried". Junior Defense Minister Guto Bebb, who'd supported May's initial plan, objected to the new plan and also resigned .
    Horror for Netflix as it misses subscriber targets

    Horror for Netflix as it misses subscriber targets

    Earnings per share of $0.85 topped estimates of $0.79, but revenue of $3.91 billion fell short of the expected $3.94 billion. This time, for Netflix , it was a negative - membership growth seems to have stalled.
    Twelve Russian intelligence officers charged over U.S.  election hacking

    Twelve Russian intelligence officers charged over U.S. election hacking

    In addition to releasing to documents to the public, the defendants also transferred the documents to another organization. Today's latest, and nearly certainly not last, indictments in the Russia scandal concern 12 Russian intelligence figures.


Most liked

Trump says ex-lawyer's tape over 'model payment' may be illegal
Trump has previously sought to play down reports that Cohen could turn on him despite his ongoing legal battles. The former Playboy model said that after their first sexual encounter, Trump tried to offer her money.

Johnny Manziel traded to Montreal Alouettes
The Alouettes wasted little time promoting their acquisition of the former Cleveland Browns quarterback and Heisman Trophy-winner. In a bid to fix the league's worst offense, the quarterback-starved franchise traded for the 25-year old Texan on Sunday evening.

The five most expensive goalkeepers of all time
He continued, " That game definitely did have an influence but I also watched other games ". Becker signed with Roma on a record setting £66million ($87million) transfer fee .

Senate Votes 98-0 Against Russian Interrogations of U.S
A White House spokesperson, Lindsay Walters, wanted to make clear that the president "respects the independence of the Fed". The Russian Foreign Ministry's statement said the July 21 conversation took place "at the initiative of the United States.

Eleven people dead after Missouri tourist boat accident
Behr said that at one point, he and other passengers on the dinner boat helped pull an unconscious woman from the water. Divers were still searching Table Rock Lake , a large reservoir outside the town of Branson , for missing passengers.

Bryce Harper wins Home Run Derby in home park
The event simply lacked the kind of star power that it regularly featured in the past, which might not bode well for the future. Aguilar entered with 24 homers, good for the most in the National League and the most among 2018 Home Run Derby participants.

Pretty Good Rain Chance this Week
Scattered showers and storms will develop along I-75 this morning and continue to push inland and across I-95 this afternoon. As a more northwesterly wind kicks in, the humidity will be noticeably lower for the remainder of the week.

In Russia, meeting with Trump seen as strong win for Putin
Monday's news conference turned on some sharp questions by Jonathan Lemire, White House correspondent for The Associated Press. Putin denied anew that the Russian government interfered, regardless of what non-governmental Russian actors might have done.

Two France fans dead following wild World Cup celebrations overnight
Violence involving fans and police also broke out as the celebrations turned ugly - with reports of riots and looting. Traffic around the Champs Elysées area was blocked, with police patting down people to check for weapons.

Tesla's Beijing Technology Innovation Center Announced During Elon Musk's Visit to China
At the end of June, Tesla, as well as GM, was said to be very close to hitting the 200,000 USA delivery cap. But Musk has said the company will become profitable in the second half of this year.

Angelique Kerber beats Serena Williams to win first Wimbledon title
Kerber had endured a significant slump a year ago after wining her previous major titles at the Australian and US Opens in 2016. Markle and her sister-in-law Kate Middleton participated in a standing ovation as the players walked onto the court.

Georgia cops caught on bodycam ‘flipping coin to decide arrest’
The news outlet reported Webb was pulled over for a traffic stop this past April for allegedly speeding past a police cruiser. As a result, the cops are on administrative leave during an internal affairs investigation - and Webb's charges were dropped.

United States salmonella outbreak: 'Do not eat Honey Smacks,' shoppers told
The Food and Drug Administration says retails still can not legally sell Kellogg's Honey Smacks cereal following a recall. Do not eat any Kellogg's Honey Smacks cereal, regardless of package size or best-by date.

Hatch: 'I Don't Think Anybody Is Going to Overturn Roe v. Wade'
Susan Collins of Maine, Lisa Murkowski of Alaska, and Rand Paul of Kentucky could potentially have some problems with Kavanaugh. Nixon has accused Cuomo of tacitly supporting a group of breakaway Democrats who helped the Republicans control the Senate.

Fresh Trade Threat Drags on Global Stocks
A Commerce Ministry statement said, "It is totally unacceptable for American side to publish a tariff list in a way that is accelerating and escalating".