While Asian stocks rose, the Chinese yuan suffered its worst month on
record, losing 3 percent against the dollar in June as investors pulled
money from a market likely to suffer from higher barriers to trade.
The
Chinese yuan traded as low as 6.6441 to the dollar on Friday, its
lowest since November. It traded at 6.6211 to the dollar around 0800
GMT.
The dollar index edged down 0.5 percent to 94.924, and was up 0.1 percent against the yen at 110.65.
European bonds diverged, with the EU Summit migration agreement pushing Germany’s Bund yields up while Italian 10-year government bond yields fell to a one-week low.
The yield on benchmark 10-year Treasury notes rose to 2.8547 percent and the yield curve widened slightly to 33.3 basis points.
Oil prices also came under pressure from trade frictions, falling despite tight crude market conditions that had pushed prices to three-and-a-half-year highs on Thursday.
U.S. crude was 0.4 percent lower at $73.19 a barrel. Brent crude rose 0.2 percent to $78.01 per barrel.
Gold remained near 6 1/2 month lows, weighed down by trade worries, interest rate expectations and the strong dollar.
Spot gold traded up 0.2 percent at $1250.78 per ounce, but was still headed for its worst monthly performance since November 2016.
Emerging stocks jumped 1.6 percent, having hit a one-month low in the previous session. The index was set for its worst month since January 2016 as the rising dollar battered emerging economies.
The dollar index edged down 0.5 percent to 94.924, and was up 0.1 percent against the yen at 110.65.
European bonds diverged, with the EU Summit migration agreement pushing Germany’s Bund yields up while Italian 10-year government bond yields fell to a one-week low.
The yield on benchmark 10-year Treasury notes rose to 2.8547 percent and the yield curve widened slightly to 33.3 basis points.
Oil prices also came under pressure from trade frictions, falling despite tight crude market conditions that had pushed prices to three-and-a-half-year highs on Thursday.
U.S. crude was 0.4 percent lower at $73.19 a barrel. Brent crude rose 0.2 percent to $78.01 per barrel.
Gold remained near 6 1/2 month lows, weighed down by trade worries, interest rate expectations and the strong dollar.
Spot gold traded up 0.2 percent at $1250.78 per ounce, but was still headed for its worst monthly performance since November 2016.
Emerging stocks jumped 1.6 percent, having hit a one-month low in the previous session. The index was set for its worst month since January 2016 as the rising dollar battered emerging economies.
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