In an interview with the Financial Times earlier today, the U.S. Treasury Secretary Steven Mnuchin warned China against devaluing its currency and added that a trade agreement needed to include terms on exchange rates. “As we look at trade issues there is no question that we want to make sure China is not doing competitive devaluations. The renminbi has depreciated significantly during the year. “¦ We are going to absolutely want to make sure that as part of any trade understanding we come to that currency has to be part of that,” Mnuchin said, as reported by CNBC. The trade-sensitive S&P 500 Materials and Industrials sectors reacted negatively and were last seen losing 1.3% and 1.75%, respectively. Meanwhile, the CBOE Volatility Index, Wall Street’s fear gauge, is also up more than 10% on the day to reflect the flight-to-safety. As of writing, the S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite were down 0.85%, 0.9%, and 1.5%, respectively. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EU’s Barnier: Much of withdrawal agreement already agreed with UK, 80-85% of Brexit treaty FX Street 4 years In an interview with the Financial Times earlier today, the U.S. Treasury Secretary Steven Mnuchin warned China against devaluing its currency and added that a trade agreement needed to include terms on exchange rates. "As we look at trade issues there is no question that we want to make sure China is not doing competitive devaluations. The renminbi has depreciated significantly during the year. "¦ We are going to absolutely want to make sure that as part of any trade understanding we come to that currency has to be part of that," Mnuchin said, as reported by CNBC. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
