China won’t devalue yuan to boost exports

25 July, 2018, 02:15 | Author: Martin Tyler
  • Trump blasts Fed, threatens to put tariffs on all Chinese goods

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.

Chinese Premier Li Keqiang stressed the government would accelerate plans to reduce taxes by more than 1.1 trillion yuan ($160 billion) and to issue 1.35 trillion yuan in local government special bonds for infrastructure. -China trade war will further hurt output.

DXY: The dollar index steadied after falling to an over 1 week earlier on reports that Trump was anxious the Federal Reserve will raise interest rates twice more this year.

Maharaj claims South Africa's best figures since readmission
Cape Town - Proteas opening batsman Dean Elgar admits that Sri Lanka have been the better team in the two-match Test series. Faf du Plessis showed some resistance in Colombo, battling to 48 in the Proteas' first innings of the second test.

It was last down 0.2% at 94.27, the lowest in more than two weeks. The dollar fell against its major trading partners after CNBC reported that Trump was anxious the Federal Reserve will raise interest rates twice more this year. "It's a two-way float", Geng Shuang, foreign ministry spokesman, said at a regular briefing in Beijing when asked to comment on Trump's remarks on the yuan.

U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. The BOJ, in turn, offered to buy an unlimited amount of five- to- 10-year Japanese government bonds on Monday.

The shift in focus toward easing also comes after the central bank in July released 700 billion yuan in liquidity by cutting some banks' reserve requirements, prompted by concerns over tighter cash conditions and a potential economic drag from the USA trade dispute. With the Fed lifting rates seven times since it began tightening in December 2015, the gap between US and German benchmark yields at some maturities is the widest since at least the 1990s.

Ferrari chief Sergio Marchionne replaced as result of illness
Meetings took place in Turin on Friday to choose his successor, sources said. "It has been my privilege to have had Sergio at my side for all these years".

Trump is not trying to influence currency markets, Treasury Secretary Steven Mnuchin has said, reiterating that a strong USA dollar reflects a strong U.S. economy and is in the United States' long-term interest.

Chinese shares also opened lower but quickly reversed their losses, with both the blue-chip index and Shanghai's SSE composite up a touch.

"Neither are we overly concerned by recent Chinese yuan weakness triggering a liquidity shock, and we expect policy makers to intervene if there's sustained downward pressure", May told Anadolu Agency. Reed Cavendish Wealth Management analysts say USA businesses based in China are concerned that such measures could mean increased inspections, delayed investment approvals or even consumer boycotts.

Pompeo Urges Nations to Keep Pressuring N. Korea
Are they telling us that they want to continue supplying this oil? "She needs to study basics more". Secretary of State Mike Pompeo and U.S.

"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. The fixing was 298 pips or 0.44 percent weaker than Monday's midpoint of 6.7593.

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