G-20 calls for more dialogue on rising trade tensions

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

As the U.S. Federal Reserve looks set to raise rates twice more this year, investors have pulled out of the yuan and other global currencies.

In an exclusive interview with CNBC's Joe Kernen that aired Friday, Trump expressed frustration with the Fed's recent move to raise interest rates and said the central bank could disrupt the USA economic recovery.

The dollar index has risen 2.4% so far this year, led largely by Fed rate rises, strong macroeconomic data and nervousness about a full-blown tariff war.

The U.S. has threatened to impose tariffs on more than 500 billion U.S. dollars of goods imported from China.

Asian stocks took Wall Street's cue on Monday, with MSCI's broadest index of Asia-Pacific shares outside Japan falling 0.2%.

The dollar index fell 0.77 percent, with the euro up 0.74 percent to $1.1727.

Gold prices were flat to slightly lower on Monday, failing to find safe-haven support despite dollar weakness.

"If anything, the incentive will be to tighten more, not less, because of this political pressure", Perli said in a note Friday. "The Fed will keep tightening and the worsening deficits will keep Treasury supply increasing", which will keep US yields attractive to worldwide investors, supporting the greenback. "As usual, not a level playing field".

The yield on United States 10-year Treasuries rose 7 basis points to a month-high 2.96 percent as investors weighed up the impact of a new policy framework for the Bank of Japan, which has been buying government bonds as a means to stir inflation in the world's third-biggest economy. Benchmark 10-year JGB futures, which had started lower on Monday, pared some of their losses on the announcement.

The Reuters report and the dollar's weakness together added to the yen's strength, which was last up 0.5% at ¥110.91 to the dollar.

Investors are now looking ahead to an important meeting between Trump and European Commission president Jean-Claude Juncker. "Merkel and European Union officials joined China in stating that they would resist and retaliate against USA tariffs". Find us on Facebook too!

The US leader is already embroiled in a messy trade spat with China and Europe, while negotiations with Canada and Mexico to revamp the North American Free Trade Agreement have stalled.

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. The offshore yuan CNH=D3 fell almost 0.6 percent to a low of 6.8448 per dollar, its weakest since June 2017.

A policy debate in China on how best to address slowing growth deepened on Friday, as analysts urged authorities to boost fiscal stimulus amid rising risks to the world's second-biggest economy from a bitter trade conflict with the United States.

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