• The dollar extended its latest retreat on Wednesday after a key advocate for free trade in the White House announced his resignation, fanning fears President Donald Trump would go ahead with tariffs and risk a trade war.
The dollar dropped to as low as 105.45 yen, near Friday’s 16-month low of 105.24 yen and last stood at 105.75 yen, down 0.35 percent on the day.
The euro hit a two-week high of 1.2429 and last stood up 0.1 percent at $1.2412, extending its rise into the fifth day.
• China is fully confident of its ability to fend off systemic debt risks, while it continues to strengthen control over local government debt, Finance Minister Xiao Jie said on Wednesday.
• Japanese Defence Minister Itsunori Onodera said on Wednesday that North Korea’s intentions were unclear and careful analysis was needed, when asked by reporters about plans for a summit by North and South Korea.
• U.S. President Donald Trump said on Tuesday he would make a decision soon on appointing a new chief economic adviser after Gary Cohn said he was resigning from the post.
A White House official said White House adviser Peter Navarro, director of the White House National Trade Council, and conservative commentator Larry Kudlow were the leading candidates for the job.
• Oil prices fell on Wednesday, pulled down by declining stock markets after a key advocate for free trade in the U.S. government resigned, stoking concerns Washington will go ahead with import tariffs and risk a trade war.
Crude oil followed suit, with Brent futures down 53 cents, or 0.8 percent, from their previous close to $65.26 per barrel at 0747 GMT.
U.S. West Texas Intermediate (WTI) crude futures were at $62.14 a barrel, down 46 cents, or 0.7 percent.
Reference: Reuters, CNBC
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