China Rejects Donald Trump's Accusations Of Currency Manipulation

Trump blasts Fed, threatens to put tariffs on all Chinese goods

Last week, US Treasury Secretary Steven Mnuchin said the US government is monitoring the yuan's weakness and would assess whether the redback has been manipulated.

"It's probably a little too early for the indirect impact of the US-China trade issue to be showing up in the data".

The BOJ, in turn, offered to buy an unlimited amount of five- to- 10-year Japanese government bonds on Monday. The yield on the benchmark 10-year Treasuries lost a little over 1 basis point to 2.88 percent, the super-long 30-year bond yields also slipped almost 1 basis point to 3.02 percent and the yield on the short-term 2-year traded almost 1-1/2 basis points lower at 2.58 percent. The greenback against a basket of currencies trades 0.1 percent down at 94.43, having touched a low of 94.21 earlier, its lowest since July 11.

Asian shares dipped on Monday on fears of more protectionist measures from the United States while the dollar declined against major currencies after U.S. President Donald Trump criticised the Federal Reserve's tightening policy. The offshore yuan CNH=D3 fell almost 0.6 percent to a low of 6.8448 per dollar, its weakest since June 2017.

"The market took the news as a possible sign the anchor at the long end may allow for some natural drift higher", ANZ said in a note to clients.

If the onshore yuan finishes the late night session at the same level, it would have lost 0.36 percent against the dollar for the day. Indeed, Chinese and Hong Kong shares were in positive territory on Monday after a subdued start.

European Commission President Jean-Claude Juncker heads to Washington on Wednesday to meet with President Donald Trump and try to avert an escalation of tit-for-tat trade tariffs.

The People's Daily editorial on Saturday, for instance, said Washington would "be hoisted by its own petard" and "find its own way back from losing its way in launching a trade war with China", reiterating an official Chinese position that a trade war is bad for everyone.

(0830 ET/1230 GMT) Statistics Canada releases wholesale trade data for the month of May.

However the monthly Retail sales has beaten the expectations where it rose from -1.2 percent to 2.0 percent while analysts expected an increase of 1.1 percent. It was flat at $1.1727.

Benchmark 10-year US notes last fell 14/32 in price to yield 2.8968 percent, from 2.847 percent late on Thursday.

USA crude was last off 16c at $68.1 a barrel after posting its third straight weekly loss. Global benchmark Brent crude was trading 1.4 percent up at $73.97 per barrel by 1014 GMT, having hit a low of $71.19 on Wednesday, its lowest since April 17.

Spot gold was down 0.5 percent at $1,225.41 an ounce by 1441 GMT, close to last Thursday's low of $1,211.08, while US gold futures for August delivery were down 0.5 percent at $1,225.50.

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