Trump triggers US bond yield slide, dollar recovers
- Author: Zachary Reyes Apr 13, 2017,
Apr 13, 2017, 21:10
"They're not currency manipulators", Trump said.
"Having spoken out against a weak dollar and the Fed's policies, it looks like someone in Washington has laid out the facts for the president", said Chris Beauchamp, chief market analyst at IG.
"China is killing us", Trump had complained on the campaign trail.
An Associated Press investigation of United Nations missions during the past 12 years found almost 2,000 allegations of sexual abuse and exploitation by peacekeepers and other personnel around the world _ signaling the crisis is much larger than previously known.
"I think our dollar is getting too strong, and partially that's my fault because people have confidence in me", he said.
Backing away from a campaign pledge, President Donald Trump says his administration will not label China a currency manipulator in a report due this week, though he does feel the US dollar "is getting too strong". He often said the world's second-largest economy was taking advantage of the US, and that he would respond on his first day in office by labeling China a currency manipulator. Under U.S. law, labeling a country as currency manipulator can trigger an investigation and negotiations on tariffs and trade.
"The best way to get China to cooperate with North Korea, is to be tough on them with trade, which is the number one thing China's government cares about", Schumer said.
He also said China was not manipulating its currency - doing so would hurt talks with Beijing on dealing with North Korea - and that he would not rule out re-nominating Yellen once her four-year term is up next year. But that's hurting--that will hurt ultimately.
Additionally, Trump claims he is "now open" to keeping current Federal Reserve Chairwoman Janet Yellen in her post.
Trump expressed his concern that USA businesses, especially manufacturers, won't be able to compete with other countries since American goods would be more expensive when the dollar's value is too high.
The dollar fell broadly Trump's comments on the strong dollar and on his preference for low interest rates.
But after losing 0.6 percent on Wednesday - its biggest one-day fall in over three weeks - the dollar recovered on Thursday, trading up 0.3 percent on the day by 1150 GMT.
In an interview with Wall Street Journal, Trump said it "was not possible" for peace with Assad still in power. But the falling dollar and bond yields weighed on European markets.