Trump says China won't be labeled a currency manipulator

Trump says China won't be labeled a currency manipulator

"They're not currency manipulators", Trump said in an interview Wednesday with the Wall Street Journal.

"Clearly, I think it was oversold yesterday", said Peter Ng, senior currency trader at Silicon Valley Bank in Santa Clara, California.

Asian stock markets were mixed Thursday after U.S. President Donald Trump withdrew a threat to declare China a currency manipulator. "But going it alone means going it with lots of other nations, '" Trump said he told Chinese President Xi Jinping during last week's meeting at the American leader's Mar-o-Lago resort. But the falling dollar and bond yields weighed on European markets. "I think we had a very good chemistry together", he said.

The president said that the not "insisting" on removing Syrian President Bashar al-Assad from power, but also didn't rule out additional military action in response to Assad's barrel bombs in his country.

Trump added that he would be amicable to a trade agreement with China that does not do quite as much to lessen the trade deficit in order to "solve the problem in North Korea".

"While we can count on the fingers of one hand the number of times Presidents Obama or Bush talked about the U.S. dollar's value, President Trump is, of course, happy to be different". That will be all right, too.

Speaking about the agency to the Journal Wednesday, Trump said, "Instinctively, you would say, 'Isn't that a ridiculous thing'".

But there are compelling reasons why recent administrations have tried to avoid commenting on the dollar: Other countries can interpret loose talk as an effort to manipulate the vital currency.

Almost a year later, in May 2016, Trump told an in rally that the U.S. "can't continue to allow China to rape our country and that's what they're doing".

Analysts at Rabobank said the market's response to Trump's election, rallying on prospects of higher growth and inflation, had left the president in a hard position. "We may be at an all-time low" in the relationship.

"They're not currency manipulators", Mr Trump said flatly in the interview.

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.

On North Korea, Trump didn't outline any concessions China was offering apart from the coal cutoff, which was announced two months ago.

Kimberly Adams: Professor, how might this news change U.S.

"It will be interesting to see what measures China takes to ramp up pressure on North Korea", she said.

Trump's remarks went against a long-standing practice of both U.S. Democratic and Republican administrations refraining from commenting on policy set by the independent Federal Reserve.

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But asked on Wednesday whether he would look for a replacement for Yellen when her term expires next year, the president declined to say, suggesting Yellen might be allowed to stay on.