[ad_1]
The Chinese yuan fell to its lowest level in 11 years in the domestic market and hit a record high in the overseas markets on Monday after the recent escalation of the US-China trade war that has shaken confidence investors.
US President Donald Trump on Friday announced a 5% surtax on Chinese goods worth about $ 550 billion, just hours after Beijing announced $ 75 billion worth of duties on US products, lowering inventories and encouraging investors to seek refuge. In the bond markets.
On Monday, Trump said China had contacted US trade officials and asked them to return to the negotiating table, comments that have contributed to the rise of the yuan since the lowest levels.
In the Chinese domestic market, the yuan fell to 7.1500 yuan to the dollar, the lowest since February 2008.
In the overseas market, the Chinese currency fell to 7.187 yuan against the dollar, its lowest level since the currency began trading in 2010, then to 7.16424 yuan, down 0.4% the day after Trump's optimistic comments on the trade.
As a sign of calm on the markets, the Japanese yen, a safe haven, fell 0.4% to 105.76 yen to the dollar, after peaking in four months of 104.46 yen.
The dollar has recovered, rising 0.3% against a basket of currencies.
Against the euro, the greenback rose 0.2% to 1.115 dollars for one euro.
The Turkish lira has fallen from around 1% to more than £ 5.8 the dollar today, after briefly falling to £ 6.47 the dollar, which market watchers have described as a "sudden collapse" as Japanese investors reduce their risky assets.
The Australian dollar, a gauge of global risk appetite, had already fallen to $ 0.6690, approaching a recent 10-year low of 0.66775 before rising to $ 0.6750.
The pound fell 0.3% to $ 1.2245, and the dollar moved most of its movements as investors wait for the next developments in Britain's efforts to persuade the European Union to renegotiate its exit agreement.
Source link
