The Chinese yuan and the Australian dollar decreased when the American tax period came close
The dollar was reduced while the Australian dollar was also reduced as the investor worried that the U.S. government would impose a tax of 200 billion in China's commodity, probably today. The Chinese Ministry of Commerce has also announced that they may be responding if the U.S. applies taxes.
The USD/CNY rate rose 0.07% to 6.8413 at 11:46PM ET (0346GMT) when, so far, the exchange rate fell 11 consecutive weeks.
Rodrigo Catril, forex strategy analyst at National Australia Bank, said: "In the immediate tax scenario, will be at close to 20% rather than 10% along with other threats, we think that the 7 CNY barrier is more likely than not to be exceeded" , reference to the sale of Yuan Dong. "Currently, we are leaning to the softer script with the CNY transaction under 7".
CNBC information of the week that Chinese senior leaders have prepared the price of the currency to support exports amid the trade tensions escalated, though that China would try to avoid putting the USD/CNY rate up above 7 levels.
Koon How Heng, head of the market strategy analyst at UOB, said the USD/CNY rate "may be held around the current level, on 6.8, before the Ministry of Finance has reviewed the half-year foreign exchange policy in Oct." But the tendency for medium term is that [yuan] weakens until there is no clear solution for U.S.-central trade tensions. " Meanwhile, the AUD/USD rate fell 0.5% to 0.7163. The Australian dollar fell 3% in the last month, and this week fell to 0.7145, the lowest since Thsang 5/2016.
The USD/JPY rate fell with the information that President Trump targeted Japan for the next trade war.
Leading a phone call with Trump, newspaper The Wall Street Journal information that The president "portrays his good relationship with Japanese leaders but then adds:" Of course that will end until I tell them that they will How to pay the price ".
The USD/CNY rate rose 0.07% to 6.8413 at 11:46PM ET (0346GMT) when, so far, the exchange rate fell 11 consecutive weeks.
Rodrigo Catril, forex strategy analyst at National Australia Bank, said: "In the immediate tax scenario, will be at close to 20% rather than 10% along with other threats, we think that the 7 CNY barrier is more likely than not to be exceeded" , reference to the sale of Yuan Dong. "Currently, we are leaning to the softer script with the CNY transaction under 7".
CNBC information of the week that Chinese senior leaders have prepared the price of the currency to support exports amid the trade tensions escalated, though that China would try to avoid putting the USD/CNY rate up above 7 levels.
Koon How Heng, head of the market strategy analyst at UOB, said the USD/CNY rate "may be held around the current level, on 6.8, before the Ministry of Finance has reviewed the half-year foreign exchange policy in Oct." But the tendency for medium term is that [yuan] weakens until there is no clear solution for U.S.-central trade tensions. " Meanwhile, the AUD/USD rate fell 0.5% to 0.7163. The Australian dollar fell 3% in the last month, and this week fell to 0.7145, the lowest since Thsang 5/2016.
The USD/JPY rate fell with the information that President Trump targeted Japan for the next trade war.
Leading a phone call with Trump, newspaper The Wall Street Journal information that The president "portrays his good relationship with Japanese leaders but then adds:" Of course that will end until I tell them that they will How to pay the price ".
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