{"id":1033,"date":"2018-10-18T05:10:56","date_gmt":"2018-10-18T05:10:56","guid":{"rendered":"https:\/\/forexvarsity.com\/welcome\/?p=1033"},"modified":"2018-10-18T05:10:56","modified_gmt":"2018-10-18T05:10:56","slug":"yuan-slips-as-u-s-declines-to-label-china-a-currency-manipulator","status":"publish","type":"post","link":"https:\/\/forexvarsity.com\/welcome\/yuan-slips-as-u-s-declines-to-label-china-a-currency-manipulator\/","title":{"rendered":"Yuan Slips as U.S. Declines to Label China a Currency Manipulator"},"content":{"rendered":"

The Chinese yuan slipped against the dollar on Thursday as the U.S. spared China from the\u00a0<\/span>currency manipulator label<\/a><\/span>.<\/p>\n

The Treasury Department declined to label China or any other trading partner of the U.S. as currency manipulators, but added that Beijing and some other countries including Germany, Japan and India have been put on a watch list.<\/p>\n

The\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair last traded at 6.9367 at 12:20 AM ET (04:20 GMT), up 0.12%. The People’s Bank of China (PBOC) set the yuan reference rate at 6.9275 vs the previous day’s fix of 6.9103.<\/p>\n

Meanwhile, the\u00a0<\/span>U.S. dollar index<\/a><\/span>\u00a0<\/span>that tracks the greenback against a basket of other currencies inched up 0.06% to 95.41 after the minutes from the latest FOMC meeting revealed that the Fed is likely to gradually raise rates to preserve a steady economy, despite U.S. President Donald Trump\u2019s view that the central bank has been increasing rates too fast.<\/p>\n

“The USD has been making up some lost ground in the past 24 hours or so. It seems to have been more market related rather than US data (only housing starts were released overnight and they were likely hurricane affected), while the FOMC Minutes this morning also have not shifted the dial too much,” David de Garis, a director and senior economist at National Australia Bank, said in a morning note.<\/p>\n

Elsewhere, the\u00a0<\/span>USD\/JPY<\/a><\/span>\u00a0<\/span>pair dipped 0.12% to 112.53 after Bank of Japan Governor Kuroda said the central bank will continue to maintain its current stance of low interest rates until Japan achieves its 2% inflation target.<\/p>\n

The\u00a0<\/span>AUD\/USD<\/a><\/span>\u00a0<\/span>pair and the\u00a0<\/span>NZD\/USD<\/a><\/span>\u00a0<\/span>pair gained 0.4% and 0.08% respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese yuan slipped against the dollar on Thursday as the U.S. spared China from the\u00a0currency manipulator label. The Treasury Department declined to label China or any other trading partner of the U.S. as currency manipulators, but added that Beijing and some other countries including Germany, Japan and India have Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-1033","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1033"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1033\/revisions"}],"predecessor-version":[{"id":1034,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1033\/revisions\/1034"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}