Friday, 24 February 2017

Asian Shares Off 1 1/2-yr High, Trump's Yuan Comment In Focus

Asian shares took a breather on Friday, hovering just below 1-1/2-year highs as investors braced for a potentially wobbly session after US President Donald Trump called China "grand champions" of currency manipulation. Over the past month or so, financial markets have been buffeted by rising protectionism under the Trump administration, and the President's latest comments on China does little to raise confidence on trade relations between the world's two biggest economies. His comments came just hours after his new Treasury secretary pledged a more methodical approach to analysing Beijing's foreign exchange practices.

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