Mnuchin says he’s watching China’s currency moves as the trade war escalates

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China central bank chief meets Mnuchin amid trade tensions, stock plunge

US Treasury Secretary quoted as saying his department was monitoring currency issues ‘very carefully’, noting the renminbi had fallen ‘significantly’ this year

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China’s central bank governor Yi Gang has met with US Treasury Secretary Steven Mnuchin on the sidelines of the World Bank annual conference in Bali, Indonesia and exchanged views over ‘relevant economic and financial issues,’ the People’s Bank of China said in a brief statement on its website on Thursday.

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Mnuchin was quoted by the Financial Times on Wednesday as saying the Treasury monitored currency issues ‘very carefully’ and noted that the Chinese renminbi had fallen ‘significantly’ during the year, adding he wanted to discuss the currency with Beijing as part of trade talks.

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  • Publisher: South China Morning Post
  • Date: 2018-10-11T15:15:30+08:00
  • Author: Sidney Leng
  • Twitter: @SCMPNews
  • Citation: Web link

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Mnuchin says he’s watching China’s currency moves as the trade war escalates

US Treasury Secretary Steven Mnuchin is keeping a close eye on China’s currency as the trade war between the two countries escalates.

After meeting with China’s central bank governor on Thursday, Mnuchin told CNN that he has been ‘carefully monitoring’ the yuan’s decline against the dollar.

‘If someone intervenes to support their currency, that’s fine,’ Mnuchin said in an interview in Bali, Indonesia. ‘If someone intervenes to devalue their currency, that’s not fine.’

In the past six months, the yuan has dropped more than 9% against the US dollar. And there are growing signs that the country’s currency may fall to 7 yuan to the greenback ‘ a threshold not crossed since before the 2008 financial crisis.

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  • Publisher:
  • Date: 2018-10-11T04:30:52-06:00
  • Citation: Web link

US intel intercepts show Saudis discussing plan to lure Khashoggi back to Saudi Arabia

The US has intercepts of Saudi officials discussing a plan to lure journalist Jamal Khashoggi back to Saudi Arabia and detain him, according to a US official familiar with the intelligence.

The source did not say when the US became aware of the discussions. As CNN reported earlier this week, intercepted communications were being reviewed in the wake of Khashoggi’s disappearance.

The official would not go so far as to say Saudi Crown Prince Mohammed bin Salman ordered the operation but said that, although he may not have known the specifics such a plan couldn’t have taken place without his approval.

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