TOKYO, June 23 — The Australian dollar, the Chinese yuan and other risk-sensitive currencies tumbled today after White House trade adviser Peter Navarro said the trade deal with China is “over”. Although there were few details on actual policy implications, his comments resurrected fears that...
Tuesday, 23 Jun 2020 11:13 AM MYT
TOKYO, June 23 — The Australian dollar, the Chinese yuan and other risk-sensitive currencies tumbled today after White House trade adviser Peter Navarro said the trade deal with China is “over”. Navarro linked the breakdown in part to Washington’s anger over Beijing’s not sounding the alarm earlier about the coronavirus outbreak.
Until early today, risk currencies had been supported and the dollar had been soft as markets clung to hopes of an economic recovery from the pandemic despite rising infections in some parts of the world.
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