Winners and losers against the US dollar; US: China, don’t play with the yuan

The losers and winner this week against the US dollar were:

Losers: Chinese yuan, -0.77%; Canadian dollar, -0.67%; Mexican peso, -0.15%.

Winners: South African rand, +1.53%, Australian dollar, +0.91%; Russian ruble, +0.79%; Indian rupee, +0.61%; Euro, +0.32%; UK pound, +0.21%.

Meanwhile, Sec. of the Treasury Steven Mnuchin said he warned Yi Gang, the governor of the People’s National Bank, not to weaken the yuan in retaliation to any US trade actions. “We’re going to make sure currency is definitely part of these (upcoming trade talks) discussions. We want to make sure that whatever we make up in trade we won’t lose on currencies.

 

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