Friday, 23 August, 2019

US remove India from currency monitoring list; China, Japan stay

According to the US report Singapore should undertake reforms that will lower its high saving rate and boost low domestic consumption US Treasury again says China is not manipulating currency
Patty Aguilar | 30 May, 2019, 00:01

India has been removed from the monitoring list in this report, having met only one out of three criteria a significant bilateral surplus with the USA for two consecutive reports, the Treasury Department said in its latest semi-annual report on macroeconomic and foreign exchange policies of major trading partners of the United States sent to the Congress.

The watch list will closely examine the foreign exchange policies of the nations on the list.

Being labelled a currency manipulator doesn't come with immediate penalties, but can rattle financial markets.

The details were revealed after US Treasury submitted its semi-annual report to Congress on International Economic and Exchange Rate Policies.

Singapore disputed its inclusion on this year's list, with the country's central bank saying Wednesday that it "does not manipulate its currency for export advantage".

Germany remains on the monitoring list for a third year, and Treasury noted it has "the world's largest current account surplus", and a $68 billion trade surplus with the United States in 2018.

Citing the US Treasury's report, MAS highlighted that it "manages the Singapore dollar nominal effective exchange rate (S$NEER) within a policy band, just as other central banks conduct monetary policy by targeting interest rates".

India was first included in the in 2017 when Reserve Bank of India had grown foreign exchange reserves substantially by regular intervention in foreign exchange market.

Rafael Nadal Powers On In Paris, Stefanos Tsitsipas Battles Through
She joined Germany's Angelique Kerber who was bundled out by another unheralded Russian, Anastasia Potapova, on Sunday. Seeded 19th this year, Muguruza won the title at Roland Garros in 2016 when she upset Serena Williams in the final.

Lamar Odom Confesses He Threatened to Kill Khloe Kardashian
That being the final straw for Kardashian, she eventually filed for divorce in 2014. Khloe Kardashian and Lamar Odom . "I was playing really good basketball".

Trump Jr. Trolls Roy Moore on Possible Senate Run
Moore previewed another run for Senate, warning his possible Republican rival for the nomination, Bradley Byrne, that if he ran, he would beat Doug Jones .

The reduction of Singapore's current account surplus, the Authority predicted, will be tangential upon "rising affluence that will raise consumption" and the drawing down of "public and private savings" to accommodate "the needs of an ageing population". Treasury welcomes this development.

The report urges Singapore to cut its large external surpluses by undertaking reforms to trim its high saving rate, boost low domestic consumption and ensure that its real exchange rate is in line with economic fundamentals.

Vietnam and Singapore's neighbour Malaysia have also been added to the watch list for currency manipulation.

Countries with a current-account surplus equivalent to 2 per cent of gross-domestic product are eligible for the list, according to modifications made in the new list, down from 3 per cent earlier. "The current account surplus is thus a reflection of the diversified nature of the Malaysian economy", it added.

Treasury's "Monitoring List" of major trading partners that merit close attention to their currency practices: "China, Germany, Ireland, Italy, Japan, Korea, Malaysia, Singapore, and Vietnam".

Switzerland has also been removed from the list.

Read the Treasury Department's report in full HERE. Countries that meet two of the three criteria are placed on the watch list.

The U.S. Treasury Department in Washington, U.S., August 6, 2018.

Recommended

  • Majodina: No one on ANC’s Parly list dropped for Mabuza

    Majodina: No one on ANC’s Parly list dropped for Mabuza

    Cyril Ramaphosa is now without a deputy president - or a cabinet, for that matter - after delaying his announcement on who will serve alongside him.
    Alibaba Group Plans To Conduct $20B Hong Kong Listing Once Again

    Alibaba Group Plans To Conduct $20B Hong Kong Listing Once Again

    Reports said that the money raised in Hong Kong was meant to help Alibaba "diversify funding channels and boost liquidity". Since its Wall Street listing, Alibaba has nearly doubled in size to become the largest-listed Chinese company.
    Children better off today than 20 years ago

    Children better off today than 20 years ago

    That is especially acute in rural America, where nearly one in four children grow up in poverty, according to Save the Children. However, Niger was one of the countries that made the most progress, along with Rwanda, Ethiopia and Sierra Leone.
  • Officials Confirm Tornado Touched Down In Berks County, Damaging Homes And Cars

    Officials Confirm Tornado Touched Down In Berks County, Damaging Homes And Cars

    A tornado watch is issued when conditions are favorable for tornadoes and severe thunderstorms are in and close to the watch area. Dayton, a large city in the state's southwest and the county seat of the Montgomery County, is now under a boil-water advisory.
    Magic Johnson responds to ESPN's report with rambling statement on ESPN

    Magic Johnson responds to ESPN's report with rambling statement on ESPN

    I can't worry about what somebody thinks, the perception. "What's got to happen now, is we got to get out of the news". Johnson called an impromptu meeting with media in April to step down from his front office position.
    Samsung Galaxy Note 10’s rear camera setup may look like this

    Samsung Galaxy Note 10’s rear camera setup may look like this

    Samsungs Galaxy M-series has found success in India, becoming the best-selling phones on Amazon.in in the February-March period. Notably, this is not the first time that we are coming across speculations about the fourth Galaxy M series smartphones.
  • Alex Trebek Shares Positive Update on His Cancer Treatment Progress

    Alex Trebek Shares Positive Update on His Cancer Treatment Progress

    Less than three months after Alex Trebek revealed a bleak medical diagnosis, things are looking so much better. Trebek still has several more rounds of chemotherapy to hopefully enter full remission.
    Woods breaks into world top five

    Woods breaks into world top five

    While players are not allowed to place golf bets, they can bet on other sports and partake in other forms of gambling. Before his Masters victory, Tiger took on his longtime rival Phil Mickelson in a head to head match for $9m (£7.1m).
    Wife and Daughter of Coach Killed in Head-On Collision

    Wife and Daughter of Coach Killed in Head-On Collision

    He and Jen and their children are dear friends to everyone they met. "Their positivity and energy lift up those around them". According to MI news source MLive.com, the vehicle that struck the Moore family was driving the wrong way on M-14.
  • A Man Has Set Himself On Fire Outside The White House

    A Man Has Set Himself On Fire Outside The White House

    Secret Service is investigating after a man lit himself on fire near the White House in Washington , D.C. Many witnesses shared horrifying footage of the incident on Twitter.
    Malaysia's final male Sumatran rhino dies

    Malaysia's final male Sumatran rhino dies

    Sabah Wildlife Department director Augustine Tuuga said the Malaysian male, Tam , had lived in a nature reserve on Borneo island . Tam fell ill in late April, losing his appetite and energy, and the decline was rapid.
    Razer Shifts Gears with New Blade Studio Edition Laptops

    Razer Shifts Gears with New Blade Studio Edition Laptops

    For automation of certain tasks like video color matching or image upscaling, App developers can make use of CUDA-X AI software. Nvidia announces its Quake II RTX , a ray-traced and enhanced re-release of the original, available for free on June 6.

Ole Gunnar Solskjaer scores in a charity clash at Old Trafford Ole Gunnar Solskjaer scores in a charity clash at Old Trafford The match took place in order to raise money for the Manchester United foundation, more information on which can be found here . It was the first time Ferguson, 77, had managed a United team since his retirement in 2013.

Mueller says he could not charge Trump as Congress weighs impeachment Mueller says he could not charge Trump as Congress weighs impeachment In a recent interview with CNN , Amash revealed that a few of his Republican colleagues have privately sympathized with his Trump impeachment remarks.

Antibiotics are in our rivers Antibiotics are in our rivers The researchers found that Ghana, Bangladesh, Kenya, Nigeria and Pastikan were home to the most contaminated rivers. The two-day annual meeting of the Society of Environmental Toxicology and Chemistry ends on Tuesday.

Jody Wilson-Raybould announces she will run again as an independent Jody Wilson-Raybould announces she will run again as an independent Both were subsequently removed from the Liberal caucus in early April and sit as Independent MPs in the House of Commons. Wilson-Raybould, the former attorney general, is now an independent MP for the B.C. riding of Vancouver-Granville.

McConnell says he would fill a Supreme Court vacancy in 2020 McConnell says he would fill a Supreme Court vacancy in 2020 Since 1900, only eight judges have been considered during a presidential election year, the Wall Street Journal noted in 2016. The seat was left vacant until April 2017, when President Trump nominated conservative justice Neil Gorsuch .

Special counsel Robert Mueller to deliver unexpected statement on Russian Federation investigation Special counsel Robert Mueller to deliver unexpected statement on Russian Federation  investigation The special counsel noted that the justice department's policy states that a sitting president may not be charged with a crime. Putin did get what he wanted, and Trump's presidency has been a boon to the Kremlin.

Amazon launches the Amazon Echo 5 for $90 Amazon launches the Amazon Echo 5 for $90 Most notably, the Echo Show 5 has a built-in camera shutter that physically covers the lens. Pre-orders are open now with shipments going out on June 26.

Japan attack: Child among three dead in mass stabbing Japan attack: Child among three dead in mass stabbing And in 2010, more than a dozen people were injured in a stabbing spree on a school bus and a commuter bus in a Tokyo suburb. Speaking aboard a Japanese helicopter carrier, Trump said the American people grieved for the victims' families.

Trump senior adviser Jared Kushner returns to Mideast with peace plan Trump senior adviser Jared Kushner returns to Mideast with peace plan Kushner has looked to an alliance with the Saudis against Iran as a way to gain Arab support for the USA peace plan. Washington has yet to commit to an exact timetable with respect to the political aspects of the plan.

Sarri storms away from Chelsea training session Sarri storms away from Chelsea training session Robin van Persie, former Arsenal forward: Arsenal win Personally, I think Arsenal have the edge. So, now I'm really very happy with them.

New Death Stranding trailer to drop on May 29 New Death Stranding trailer to drop on May 29 In addition, the company revealed an extensive look at gameplay for the first time-take a look at the trailer below. You can watch the pre-reveal weirdness on TwitchTV which we have embedded below.

Intel announces 8 core i9-9900KS processor Intel announces 8 core i9-9900KS processor So, in order to make the comparison fair, the company boosted one of the Ice Lake-U processors to a TDP of 25 W. As Anandtech reported , Intel claimed that none of AMD's latest 15 W APUs were actually running at 15 W.

WVU To Host NCAA Baseball Regional WVU To Host NCAA Baseball Regional It's a rematch of the 2012 super regional, in which Stony Brook upset LSU on its way to the College World Series. Big 12 hosts are Oklahoma State (36-18), Texas Tech (39-17) and West Virginia (37-20).

Chris Hemsworth nearly quit Ghostbusters at the last minute Chris Hemsworth nearly  quit Ghostbusters at the last minute He said: "I like that anything goes". "It was so different than any other way I played the character". In the film, the god of thunder falls into a depressive funk after failing to prevent Thanos' snap.

Mum and four children killed in 'catastrophic' Queensland crash Mum and four children killed in 'catastrophic' Queensland crash Police said initial investigations showed Ms McLeod was overtaking a truck when she slammed head-on into an oncoming vehicle. The driver of the truck, a 47-year-old man, was taken to Kingaroy Hospital for treatment of non-life-threatening injuries.