Most set for losing week, Indian rupee gains [Reuters]
IPATH US TREASURY LONG BOND BE (DLBS)
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Source: Reuters
Most set for losing week, Indian rupee gains | Reuters 3 Min Read (Reuters) - Most Asian currencies trod water on Friday, and with the exception of the Indian rupee they were set to end the week lower, partly due to concerns over a brewing trade war and caution ahead an OPEC meeting later in the day. The Chinese yuan eased about 0.15 percent to a more than five-month low against the dollar. Mounting trade tensions between China and the United States has weighed heavily on the yuan, which is set for its worst week since November 2016. The Chinese central bank set the yuan’s official midpoint slightly lower for the day. [CNY/] “We think China is still comfortable with current mild depreciation as the yuan is one of the best performers in global currency market year-to-date, though they will watch out for the pace of movement closely,” OCBC said in a research note. The Philippine peso also fell, losing about 0.2 percent to the dollar. The currency was the worst performer amongst its peer
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