Tag: Yuan

• Tuesday, September 22nd 2020 - 08:30 UTC

  Trump admits he was prepared to adjust the dollar exchange rate to combat China's Yuan

  

  U.S. President Donald Trump on Monday revealed he was rebuffed when he asked officials to adjust the exchange rate of the dollar to counteract what he described as repeated currency manipulation by China of its Yuan.

• Tuesday, February 4th 2020 - 08:29 UTC

  Coronavirus hits Chinese markets and the Yuan, despite central bank liquidity injection

  

  Investors erased US$ 393 billion from China’s benchmark stock index on Monday, sold the Yuan and dumped commodities as fears about the spreading coronavirus and its economic impact drove selling on the first day of trade in China since the Lunar New Year.

• Tuesday, October 22nd 2019 - 12:12 UTC

  How has the US-China trade war affected forex?

  

  There are many factors that affect the value of currencies and influence the flow of foreign exchange, but few have a more significant impact than a trade war.

• Wednesday, August 7th 2019 - 08:44 UTC

  Sino/US clash eases: Beijing supports Yuan and Washington pledges to continue trade talks

  

  Asian shares steadied slightly on Wednesday as investors caught their breath from a searing week-long selloff, with steps taken by Chinese authorities to contain a sliding Yuan helping calm fears of a full-blown Sino-U.S. trade and currency war.

• Tuesday, August 6th 2019 - 09:15 UTC

  World stock markets plunge as Beijing lets its currency to devalue and halts purchase of US farm produce

  

  World stock markets plunged on Monday as Beijing parried US President Donald Trump's latest tariff announcements by moving to let China's Yuan currency devalue and halting purchases of US agricultural products.

• Tuesday, August 6th 2019 - 09:06 UTC

  Fed expected to further lower interest rate as trade tensions with China increase

  

  Federal Reserve Chair Jerome Powell, who last week cut U.S. interest rates as an insurance policy against the effects of “simmering” trade tensions, may need to buy more coverage after the United States late on Monday designated China a currency manipulator.

• Friday, April 26th 2019 - 10:22 UTC

  Xi pledges China an end to export subsidies and no competitive devaluation of the Yuan

  

  Chinese President Xi Jinping vowed Friday (Apr 26) to abolish subsidies to firms that impede fair competition - addressing a major bone of contention in US trade talks. Xi repeated past promises to lower tariffs, increase imports and open up more sectors of China's economy to foreign businesses.

• Wednesday, October 31st 2018 - 08:52 UTC

  Beijing concerned a weaker Yuan could further trigger trade war with the U.S.

  

  The Chinese Yuan weakened to a decade low on Tuesday on concerns over China's slowing economy and the US trade war, but Beijing was expected to prevent it breaking the psychologically important 7 Yuan per dollar barrier. The Yuan drifted past 6.96 to the dollar, hitting its weakest levels since May 2008.

• Thursday, October 18th 2018 - 08:24 UTC

  Despite grumblings, US refrains from labeling China a “currency manipulator”

  

  United States has refrained from labeling China a “currency manipulator” in a move which may help defuse escalating tension over trade between the two countries. President Trump has previously accused China of keeping its currency weak to make its exports more competitive.

• Monday, April 2nd 2018 - 08:50 UTC

  China preparing to begin paying for imported oil with the Yuan

  

  China is taking its first steps towards paying for imported crude oil in Yuan instead of the U.S. dollar, according to Reuters, a key development in Beijing's efforts to establish its currency internationally.