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US$ hold gains in cautious trade ahead of new US tariffs on China

SYDNEY: The dollar held above a recent 1-1/2 month trough against a basket of major currencies on Monday, with investors cautiously awaiting news on the implementation of U.S. tariffs on an additional US$200 billion of Chinese imports.

The dollar was last at 111.99 yen, within kissing distance of Friday's 112.16 which was the highest since mid-July. It gained 0.9 percent last week.

Global Forex Market

THE US dollar started the week on a strong note on the back of the robust labour market, reaffirming two more rate hikes in 2018 coupled with the reignited US-China trade tension after China announced that it would approach the World Trade Organisation for permission to proceed with implementation of sanctions on the US.

Rising jet fuel price woes

THE sale of prime properties owned by Media Prima Bhd to Permodalan Nasional Bhd (PNB) may not be an easy affair.

EM financial turmoil hits Malaysian bond market

KUALA LUMPUR: Financial market turmoil in the emerging markets continued with the Malaysian bond market witnessing a net foreign outflow of RM2.4bil in August compared with a net inflow of RM4bil in the preceding month.

Philippine finance chief spurns calls for early rate hike

MANILA: Philippine Finance Secretary Carlos Dominguez, a member of the central bank’s Monetary Board, said there’s no need for an out-of-cycle interest-rate increase as policy makers are focusing on the longer-term inflation outlook.

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