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20 Apr 2018

US shipping vessels hit bby China tariff turn away from Beijing

Trade tensions between the US and China remain unresolved despite the markets' hope for a peaceful conclusion, and news is hitting the wires that five US vessels that will be heavily impacted by China's new tariffs on US goods have turned away from their destination port, and are heading back to the US.

Key highlights

A fleet of US sorghum vessels have made a U-turn from their China destination.

Five of twenty ships carrying over a million tons of US sorghum changed course hours after China announced tariffs on US imports.

China has imposed hard-hitting anti-dumping duties on US grain imports.

 

Apr 20, 2018

PBOC set the Yuan reference rate at 6.2897

The People's Bank of China (PBOC) set the Yuan reference rate at 6.2897 vs previous day's fix of 6.2832. 
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Apr 20, 2018

NZD/USD hits fresh two-week low of 0.7246

The NZD/USD pair is extending the three-day losing streak, now trading at 0.7248 - its lowest level since April 6.  The American dollar picked up a b
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