China says threats, intimidation on trade will never work

Asked whether investors should be concerned about the prospects of a currency war Mnuchin said “no,” declining to elaborate

It was trading at 6.8265 as of 0200 GMT. "Tolerance is higher. Investors thought that the 6.7 per dollar was the floor, then 6.8, now both are gone", said a trader at a foreign bank in Shanghai. Across the Tasman, investors will be watching Australian consumer confidence. The index posted a final reading of -0.5 in the prior month.

Inside China, the yuan can trade 2 per cent on either side of a daily fixing set by the central bank; a freely traded offshore rate tends to track it.

Trump's comments also hit the greenback .dxy , which was last down 0.2 percent at 94.25 against a basket of six major peers, and steepened long-term Treasury yields. All this could further exacerbate dollar strength.

The behavior of the Central Bank of China represents the beginning of a currency war. It was last up 0.1 percent at $1.1741. On the downside, support is seen at 1.1671 (21-DMA), a break below could drag it till 1.1600.

The yield on USA 10-year Treasuries rose 7 basis points to a month-high 2.96 percent as investors weighed up the impact of a new policy framework for the Bank of Japan, which has been buying government bonds as a means to stir inflation in the world's third-biggest economy. The BoJ is scheduled to hold its next monetary policy meeting on July 30 and 31.

"China has a large, growing population that will consume more products" and that likes American products, he said, while cautioning that US companies shouldn't be pressured to share their technology. FxWirePro's Hourly Swiss Franc Strength Index stood at 68.68 (Bullish) by 1000 GMT. The president on Friday also accused China and the Euro area of manipulating their currencies, and complained that a rising dollar is blunting America's "competitive edge".

The pan-European STOXX 600 index slumped 0.2 percent at 384.94 points, while the FTSEurofirst 300 index plunged 0.3 percent to 1,506.82 points.

100 ex-students report sex misconduct by now-dead team physician
Representative Jim Jordan , whose tenure as an assistant wrestling coach at the university overlapped with Strauss' time there. Through his campaign committee, Jordan has retained a PR firm to help deal with the political fallout from the OSU scandal.

Oil price gains were capped however by oversupply fears. Brent eased 17 cents to $72.90.

USA crude was last off 16c at $68.1 a barrel after posting its third straight weekly loss.

In an exclusive interview with CNBC's Joe Kernen that aired Friday, Trump expressed frustration with the Fed's recent move to raise interest rates and said the central bank could disrupt the US economic recovery. Spot gold was barely changed at $1,230.82 an ounce. "We have been ripped off by China for a long time".

The German bund prices suffered ahead of the country's manufacturing PMI for the month of July, scheduled to be released on July 24 by 07:30GMT.

The yield on 10-year Chinese government bonds CN10YT=RR ended 2.9 basis points higher at 3.562 percent. USDCAD closed the session on negative notes at 1.3144. Onshore, the redback jumped 0.13 percentage point to 6.8218 at 3 p.m from the morning.

Trump's comments against Fed rate hikes helped steepen the Treasury yield curve.

Related News:

  • Trump bashes media for reporting 'negatively' on Putin summit

    Trump bashes media for reporting 'negatively' on Putin summit

    Press secretary Sarah Sanders says: "Obviously the president is talking about the collusion with his campaign". " Say that again . The Wall Street Journal/NBC News poll pegged the president's job-approval at 45 percent, up a percentage point since June to Mr.
    Joe Hart: Manchester City keeper looking for permanent move after two loans

    Joe Hart: Manchester City keeper looking for permanent move after two loans

    In City's Premier League opener against Arsenal on August 12, those positions will be taken by Kyle Walker and Fernandinho. Gomes officially moves to City from PSG on Monday when he turns 18 having signed a five-year contract.
    Pelosi: Putin isn't welcome in Congress

    Pelosi: Putin isn't welcome in Congress

    That means both hacking and the "fake news" and Facebook efforts usually mocked by Trump-friendly media. "What should we do?" The US Department of Justice and Congress are investigating the interference and any possible collusion by Trump's campaign.
  • Sony unveils the world's highest-resolution smartphone camera sensor

    Sony unveils the world's highest-resolution smartphone camera sensor

    Sony is hands-down the primary supplier of image sensors for phones. In short, enhanced images from your smartphone's camera.
    Briton discharged from hospital after Novichok poisoning

    Briton discharged from hospital after Novichok poisoning

    Charlie was admitted to Salisbury District Hospital on Saturday June 30th, following exposure to the nerve agent, novichok . The attack on the Skripals led to a spiraling diplomatic dispute with Russian Federation .
    Liverpool signs Brazilian goalkeeper Alisson from Roma

    Liverpool signs Brazilian goalkeeper Alisson from Roma

    Alisson broke the world record transfer fee for a goalkeeper after completing his move to the Premier League side for £65m. Roma boss Eusebio Di Francesco is desperate to seek revenge on Alisson Becker after he signed for Liverpool .
  • Multiple people shot at Danforth and Logan Aves

    Multiple people shot at Danforth and Logan Aves

    "This is an attack against innocent families and our entire city", Toronto Mayor John Tory said in a city council meeting Monday. Meanwhile, John Tulloch, another witness, said that he was getting out of his vehicle on the Danforth when he heard the gunshots.
    R Kelly addresses claims of sexual abuse in new 19 minute song

    R Kelly addresses claims of sexual abuse in new 19 minute song

    He adds that he's been "falsely accused". "I said my lawyer said 'don't say nothin.' But I can tell you I've been set up". In May, a woman filed a lawsuit against R.
    Hamilton limps out of German qualifying

    Hamilton limps out of German qualifying

    I hope when we do the job this weekend, it won't be focused on whether we did it on their home ground or anything like that. The four-time world champion penned a new deal with Mercedes until 2020, when the current set of F1 regulations end.
  • Johnny Manziel traded to Montreal

    Johnny Manziel traded to Montreal

    The Als have been held to 10 points or under in three of those five games while scoring a total of only 69 points. The quarterback has reportedly been traded from the Tiger-Cats to the Montreal Alouettes , according to TSN.
    Crews Salvage Duck Boat From Bottom Of Table Rock Lake

    Crews Salvage Duck Boat From Bottom Of Table Rock Lake

    It will be sent to the NTSB lab in Washington DC. "They have no use in the tourism industry, or any industry for that matter". She said she's been getting through the tragedy with a lot of prayers, and thanked the support of family members and friends.
    Rapper Tekashi 6ix9ine hospitalized after he was pistol-whipped, kidnapped, robbed, TMZ reports

    Rapper Tekashi 6ix9ine hospitalized after he was pistol-whipped, kidnapped, robbed, TMZ reports

    He was taken by ambulance to the hospital, where he now remains, as doctors perform various tests, including a CT scan. According to the sources' account, the first thing Tekashi remembers is waking up in the back seat of the auto .


Most liked

Sergio Marchionne's health worsening as he remains in ICU
Sergio Marchionne will leave Fiat Chrysler Automobiles earlier than planned due to health concerns, according to FCA . Camilleri the necessary powers to ensure continuity of the company's operation".

Syria brands evacuation of White Helmets 'criminal'
Also known as Syrian Civil Defence, the White Helmets operate in rebel-held parts of war-ravaged Syria. Hundreds of them were stuck in a pocket of southern Syria, fearing advancing Syrian government forces.

'Prairie Populism': Ocasio-Cortez and Bernie Sanders Campaign for Kansas Democrats
Sanders won the Kansas Democratic presidential caucus over Clinton with almost twice the number of votes. Sanders said this year's midterm election is a chance for the state to send a message to Washington.

Tesla Stock Stumbles as Company Asks Suppliers for Help Turning a Profit
Still, industry analysts said it is unusual for carmakers to request refunds for two previous years, as Tesla has demanded. Elon Musk's struggling auto company made the rebate request in a memo, according to the report .

Person close to Kawhi Leonard predicts he won't leave Toronto
On Friday, Raptors team president Masai Ujiri apologized to DeRozan for leaving him with the impression he would not be traded. Under the leadership of DeRozan and All-Star guard Kyle Lowry , the Raptors reached the Eastern Conference finals in 2016.

Liverpool's Naby Keita always wanted to be Steven Gerrard as a kid
OL president Jean Michel Aulas said last week: "He's one of the best in France - and in the world, since he's a world champion". I've watched a lot of English football and I'm getting used to this kind of physical aspect.

Salmonella contamination: crackers and chicken nuggets recalled
Mondelez Global LLC is voluntarily recalling certain Ritz cracker products in the USA over salmonella concerns. Healthy people infected with Salmonella often experience fever, diarrhea, nausea, vomiting and abdominal pain.

Trump ups tariff threat, slams Fed, big USA trading partners
When it came to interest rates, Nixon told his advisers "we'll take inflation if necessary, but we can't take unemployment". President Donald Trump broke a multi-decade tradition by weighing in on the Federal Reserve's monetary policy.

Armstrong's collection goes to auction
The sterling silver medallions were paid for by the crews of Apollo missions and were available for purchase only by NASA astronauts.

Israel Evacuates White Helmets in Face of Syrian Advance
The Israel Defense Forces (IDF) said they were acting on a request from the USA , the United Kingdom and other European nations. The Syrian government managed to get full control over a strategic territory at the border with Jordan following the operation.

Donald Trump Apparently Recorded Discussing Pay Out Of Playmate
McDougal is alleging a yearlong extramarital affair with Trump in 2006. "Any attempt at spin cannot change what is on the tape". They shared the recording with Trump's lawyers as well, The New York Times reported, citing three people briefed on the matter.

Boat accident victims remembered as investigators look for answers
Cellphone video taken by a witness showed the boat struggling to move on the water before it was hit by waves and then sank. Rader said an off-duty sheriff's deputy working security for the boat company helped rescue people after the boat capsized.

Montenegro Has Very Strong People. Very Aggressive People
This came as a response after US President Donald Trump recently raised doubts about the case of Montenegro . A scenario where tensions over Montenegro would trigger nuclear war seems unlikely.

Top Senate Democrat says Trump shouldn't meet with Putin again
Senate Majority Leader Mitch McConnell also announced plans for hearings on a sanctions bill from Florida Republican Sen. When asked the Speaker of the House Paul Ryan disagreed with the charge when asked about Brennan's comments.

Trump Threatens to Slap Tariffs on Everything Imported From China
Hatch took aim at tariffs imposed by Trump not only on China but also on USA allies and partners in Europe, Canada and Mexico. However, such a manoeuvr could also reignite an outflow of capital Beijing spent months trying to stanch.