archivenews

Japan was also in the firing line on Monday.The US president accused the country of currency manipulation, and hinted he might respond with tariffs. Trump said other countries are deliberately pushing down the value of their currencies to give their economies a competitive advantage. He singled out Japan and China. Trump said he had phoned Chinese President Xi Jinping and Japanese leaders. He said he told them that they can't continue to devalue their currencies against the dollar because it's unfair to the US. Trump said the easy solution for...

The dollar index — which measures the value of the greenback against several major global currencies — spiked 1.11% to 109.58, pressuring the currencies in the region. The Chinese offshore yuan dropped 0.36% to 7.347. The Indian rupee fell to a record low of 87.101 against the dollar. Asian currencies weakened sharply Monday as the U.S. Dollar rallied after U.S. President Donald Trump slapped tariffs on several countries over the weekend. The dollar index — which measures the value of the greenback against several major global currencies — spiked 1.11%...