Steven Mnuchin — News Archive

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Japanese Yen Weak on Risk Appetite, Disappointing CPI Release

The Japanese yen fell against majority of its most-traded peers today due to risk appetite prevailing on markets. Disappointing inflation report was not helping the currency either.

Chinese Yuan Still Lower on Reports US Will Not Label China ‘Currency Manipulator’

The Chinese yuan is still trading lower on Friday, despite reports that the US Treasury Department will not label the world’s second-largest economy a “currency manipulator.” The positive news was offset by an International Monetary Fund (IMF) forecast that lowers the nation’s economic growth over the next two years amid the US-China trade spat.

British Pound Rallies on Brexit Progress Despite Weak UK Macro Data

The British pound today rallied higher against the US dollar from the early European session as it emerged that the European Union and the UK were about to reach a Brexit deal. The GBP/USD currency pair was further boosted by the fact that the US warned China against devaluing its currency, which did not favor the greenback.

Chinese Yuan Rebounds After State Stimulus Injection

The Chinese yuan is rebounding against a basket of currencies on Tuesday after the federal government injected tens of billions of dollars into the national economy. Despite bearish forecasts and tumbling Asian stocks, the currency has strengthened, but it is still near a multi-year low.

US Dollar Extends Losing Skid Ahead of Federal Reserve Policy Meeting

The US dollar erased its early gains and extended its two-week losing skid on Monday. As investors braced for the Federal Reserve’s two-day policy meeting and read reports that China canceled trade talks with the US, the greenback dipped against a basket of currencies.

Chinese Yuan Rallies As Trump Invites Renewed Trade Talks

The Chinese yuan is rallying towards the end of the trading week after President Donald Trump invited Chinese officials to restart trade negotiations. The yuan, nearing a one-week high against its US counterpart, has been paring some of its losses against a basket of currencies in recent trading sessions, advancing 0.15% since Monday.

Canadian Dollar Touches Three-Month High on US Trade Deal Hopes

The Canadian dollar is nearing its best level in three months as investors are hopeful that a new trade deal can be reached with the US and Mexico. After President Donald Trump and his administration announced a new trade pact with Mexico, the White House confirmed it will now concentrate its efforts on Canada, hopefully coming to a trilateral arrangement before the midterm elections in November.

Chinese Yuan Seeks Direction After Trump’s Currency Manipulator Comments

The Chinese yuan is seeking direction after President Donald Trump accused the world’s second-largest economy of being a currency manipulator. This prompted officials to deny the allegation, pointing out that the yuan’s exchange rate is determined by the market, not Beijing. But Trump has made these suggestions before, despite the yuan appreciating for several years prior to its recent plunge.

Chinese Yuan Depreciates As Economy Weakens, Manipulation Concerns Linger

The Chinese yuan weakened against the US dollar and a basket of currencies on Tuesday. Despite some modest gains in July, the currency is still hovering around a 13-month low, leaving many traders and world leaders wondering if Beijing is manipulating the yuan.

Canadian Dollar Gains on ‘Absolutely Amazing’ NAFTA Talks, Higher Oil Prices

The Canadian dollar is rallying to start the trading week, benefiting from reported progress in North American Free Trade Agreement (NAFTA) negotiations and higher energy prices. The loonie may tumble later in the week as the US central bank completes its Federal Open Market Committee (FOMC) policy meeting that could signal a September rate hike.

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