Asian shares mixed as Trump talks down US dollar

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In the Wall Street Journal interview, Trump said that he was reversing his position because China hasn't manipulated their currency for months, and pushing the issue could hurt U.S. "They're not currency manipulators", he said.

Prasad: The interesting thing is that the currency manipulation charge that Mr. Trump leveled against China during the campaign certainly was not grounded in economic reality, because if anything, the Chinese currency, the renminbi, has been weakening against US dollar and that's the way the markets want to push it.

But he has been mostly mum on the topic since the inauguration, and the topic didn't appear to come up when China's president Xi Jinping visited last week.

"As we move into next week, the looming French election may take the shine off the euro, but the theme of dollar weakness could run for a little while longer yet", he added. "I think he wants to help us with North Korea", Mr Trump said in a Wednesday press conference. He also said he needs Beijing's help in pressuring North Korea to back off its nuclear weapons program. "And it actually makes money, it could make a lot of money", the president told The Wall Street Journal. "Otherwise we'll just go it alone". That will be all right, too.

Trump initially dodged the question which Jeff Mason of the New York Times posed, but when pressed for an answer he simply responded, "We're going to see about that".

The statement suggests that the latest movement in the local currency is not abnormal, but falls in line with the global trend, dealers said.

"I believe Trump in his first nearly 100 days has talked about the dollar more than his two predecessors during their eight-year presidencies", said Florian Hense, an economist at Germany's Berenberg Bank.

Oil prices ended lower after reversing earlier gains due to a report on United States crude stockpiles.

"The meeting between Xi and Trump in Florida has mapped out the blueprint for Sino-US relations, and the two countries will have more dialogues and more cooperation in the next step", he said.

Tensions continued to mount between Washington and Moscow with Russian Federation using its UN Security Council veto on Wednesday to swat down a US-backed resolution demanding Syrian cooperation in probing last week's suspected chemical attack. This week, the US president diverted an aircraft carrier toward the seas off the divided Korean Peninsula to deter North Korea from conducting another nuclear or missile test.

"You can not allow a country like that (North Korea) to have nuclear power, nuclear weapons". If it remains a habit, US efforts to stop other countries from pursuing similar strategies could be undermined. In February, China banned coal imports from North Korea for the rest of the year. Asian stock markets were mostly lower Thursday after Wall Street fell for a second day and U.S. President Donald Trump w.

Now the president said he does "like" low interest rates and that he has not made a decision on whether he would ask Yellen to stay on when her term expires in early 2018.



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