Robert Lighthizer — News Archive

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USD/CNY Drops As PBoC Injects More Liquidity Into Economy

The Chinese yuan is enjoying another session of modest gains to start the trading week, with much of the strength coming at the expense of the US dollar. The yuan’s ascent on Monday is being driven primarily on the central bank injecting more liquidity into the financial system. Could the yuan test 6.8 next? The currency’s performance may hinge on US-China trade talks as it will be quiet on the data front this week.

Chinese Yuan Advances As PBoC Pledges Targeted Policy

The Chinese yuan is strengthening to kick off the trading week as the central bank vowed to adopt a more targeted and appropriate monetary policy in the post-coronavirus economy. With Beijing ostensibly winding down its ultra-aggressive stimulus and relief efforts on the monetary side, investors will be watching to see if Chinese investments will remain on an upward trajectory. The yuan is also testing 6.9 against the US dollar on the latest inflation data.

Mexican Peso Weakens As USMCA Remains Incomplete

The Mexican peso is weakening against its major currency rivals at the end of the trading week, driven primarily by the delay in completing the new North American Free Trade Agreement, which is also known as the USMCA. But the peso’s declines were capped by strong retail sales data for September.

Mexican Peso Strengthens Despite Doubts Over USMCA

The Mexican peso is strengthening against several currency pairs on Thursday, despite doubts over the trade agreement between the US, Mexico, and Canada. The peso is gaining on expectations of modest third-quarter growth and it is still getting a boost from the central bank recently cutting interest rates. 

US Dollar Edges Higher on US-China Talks, Jobs Numbers

The US dollar is edging slightly higher on Thursday against several major currency rivals, driven by a potential de-escalation in US-China trade tensions and optimism over the upcoming August jobs numbers. The flurry of positive economic data also contributed to the greenback’s rebound.

Japanese Yen Weakens as Leaders Finalize Partial US Trade Deal

The Japanese yen is weakening midweek after reports that Tokyo is set to finalize a partial trade agreement with the US. While this is bullish for the world’s third-largest economy, the yen is still reeling from the latest trade data that is boosting recession fears and might prompt the government to postpone its long-proposed national sales tax.

Chinese Yuan Rallies Despite Bad Inflation, Auto Sales Data

The Chinese yuan is rallying midweek against some of its most traded currency rivals. Despite vehicle sales tumbling in June and inflation coming in lower than expected, the yuan is strengthening, which could be attributed to renewed trade negotiations between the world’s two largest economies.

Japanese Yen Strengthens on Leading Economic Index, Easing Signals

The Japanese yen is strengthening on Tuesday after new economic indexes climbed in April. This comes soon after the central bank signaled that it is willing to ease monetary policy if the economy warrants stimulus. Investors should also get a glimpse into the upcoming US-Japan trade negotiations as officials will meet with American trade representatives.

Chinese Yuan Jumps on Data, Capped by Currency Manipulation Claims

The Chinese yuan is strengthening midweek on signs of an economic recovery, even though a government-sponsored enterprise (GSE) recently defaulted on its debt, sparking concerns about the world’s second-largest economy. But the yuan’s gains were capped on accusations that Beijing was manipulating its currency.

Chinese Yuan Gains on Trade Talk Momentum, Trade Data

The Chinese yuan is gaining against major currency rivals on Monday as it is being supported by US-China trade talk momentum and better-than-expected January trade data. The yuan’s ascent was capped on disappointing auto sales figures and future industry projections.

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