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Dollar fell after Trump tweaked around currency manipulation

2019-07-03 04:25 pm | Resource: News | No Views : 88

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Dollar fell against a number of world currencies on Wednesday after US President Donald Trump said in a tirade that his country needed to "match" the EU and China in currency manipulation.

Trump accuses the EU and China of manipulating the currency

US President Donald Trump on Wednesday accused China and the European Union of "manipulating the currency" and "pumping money" to compete with the US economy, adding that America could do something similar with the US dollar.

"We must match [these monetary measures], or continue to be dolls that sit and watch politely while other countries continue to play their games as they have for many years,

Earlier, Trump said the trade deal with China should be "somewhat inclined" to the United States, adding that renewed trade negotiations with Beijing had already begun.

The United States is critical of China over missile tests in the South China Sea

The Pentagon on Wednesday criticized China for conducting missile tests in the disputed waters of the South China Sea.

"Of course the Pentagon was aware of the firing of Chinese missiles from industrial facilities in the South China Sea near the Spratly Islands," Lieutenant Colonel Dave Eastbourne told CNBC. "What really worries about this act is that it directly contradicts President Shi's statement at the Rose Garden in 2015 when he pledged to the United States, the Asia-Pacific region and the world that he would not militarize those man-made sites," he added.

Earlier this week, US media reported that the Chinese military had conducted a series of anti-ship ballistic missile tests in the South China Sea.

After trading early in the session, the euro rose 0.08% against the dollar to go to 1.12937 at 10:37 am Eastern time. Immediately after the president's comments, the euro hit a daily high of 1.13115 against the US currency.

Meanwhile, the dollar fell 0.15% against the yen and was at 107.7350 at 10:40 am Eastern time. The dollar lost 0.23% compared to the Canadian dollar at 10:36 am EST and trading at 1.30775. The greenback lost 0.06% against the Swiss franc, trading at 0.98576 at 10:42 Eastern Time, and the Australian dollar jumped 0.63% against the dollar to head towards 0.70364 at 10:43 Eastern Time.

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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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