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Dollar fell and China denies accusations of currency manipulation

2019-08-07 12:18 pm | Resource: News | No Views : 58

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The dollar traded lower against major currencies as investors awaited the development of trade tensions after China denied accusations by the United States that it was manipulating the value of its domestic currency.

China: Naming the currency manipulator is unfounded

China firmly believes that the United States has no justification for describing China as a currency manipulator, as the United States has accused China of manipulating its currency, White House National Economic Council Chairman Larry Kudlow said Wednesday. Washington is in line with the G20 and WTO violations.

Wang insisted that it is incorrect for China to manipulate its currency, adding that the country will continue its "consistent and consistent" policies in relations with the yuan.
  • Earlier in the day, China set the midpoint of the yuan at 6.9996, lower than US market watchers had expected and higher than Tuesday's figure of 6.9683. this week

Russia asks China to refocus on its market amid US row

Moscow needs to refocus its global trade practices and sell more of its products to Russia instead of the United States, Moscow's Economic Development Minister Maxim Orishkin told TASS on Wednesday. He also warned that the Chinese economy will suffer in the near future because of the trade war with the United States. "Unlike US partners, China regards Russia as a reliable supplier of any products," Orishkin said.

US President Donald Trump has announced an additional $ 300 billion in tariffs for products coming from the United States from China, slated for Sept. 1.

Main currency trades
  • The dollar rose to 1.1198 levels against the euro.
  • The dollar fell to 0.9748 levels against the Swiss franc.
  • The dollar was down 0.64% at 105.77 against the yen.
  • Against the yen, the pound was down 0.92% against the yen at 127.73000 yen.
  • The dollar rose against the pound to trade at $ 1.2136.
  • The British currency lost 0.29% against the euro to trade at 0.9230 euros.


Other analysis

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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