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Relative large flows went through some of the major IMM currency pairs during a week that saw the broad-based Bloomberg Dollar index decline by 0.4%. Overall, the changes left the gross dollar long down for a fourth week to USD 18.8 billion, a 40% reduction since reaching a five-year high on 23 April. Traders bought 24,320 euros contract (USD 3.3 billion ...
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China hit back at the Group of Seven nations over their criticism of Beijing’s global trade practices, accusing members of exaggerating the threat of overcapacity posed by the world’s second-largest economy. The club of rich-world finance ministers and central bankers accused China in a communique on Saturday of hurting the economies of its trade partners ...