Breaking News
0

Forex - Dollar Little Changed; Yuan Falls After Huawei CFO Arrest

ForexDec 06, 2018 12:07AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com - The U.S. dollar was little changed on Thursday while the Chinese yuan fell after the arrest of the CFO of tech giant Huawei Technologies.

The U.S. dollar index that tracks the greenback against a basket of other currencies last traded at 96.970 by 11:40 PM ET (04:40 GMT), down 0.04%.

"The dollar could remain under pressure until this month's Fed meeting as long-term Treasury yields may not be able to mount a rebound until the market sees the Fed's stance on policy and the economy," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

The U.S. dollar is under pressure this week amid concerns about economic growth following an inversion of the U.S. Treasury yield curve.

The two-year/10-year spread was at its flattest this week in more than a decade amid a sharp fall in long-term rates. A flatter curve is seen as an indicator of a slowing economy.

Meanwhile, the USD/CNY pair gained 0.32% to 6.8777. Canada’s Department of Justice said on Wednesday that Meng Wanzhou, CFO of Huawei, was arrested in Vancouver due to violations of U.S. sanctions. She is facing extradition to the United States, according to various media.

The news broke after the U.S. and China agreed to halt the planned increase in tariffs to 25% from 10% on Chinese imports earlier this week.

The People's Bank of China (PBOC) set the yuan reference rate at 6.8599 vs the previous day's fix of 6.8476.

The AUD/USD pair declined 0.6% to 0.7225. Data on Thursday showed Australia trade surplus in October came in at around AUD 2.3 billion instead of the expected AUD 3.2 billion from a Reuters poll.

Elsewhere, the GBP/USD traded 0.05% lower to 1.2727. A Reuters poll suggested that the pound could fall as much as 2.75% should the parliament reject the Brexit deal next week.

Forex - Dollar Little Changed; Yuan Falls After Huawei CFO Arrest
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email