Mnuchin, Treasury don't see eye-to-eye on China tariffs - Bloomberg

Joshua Gibson FXStreet

According to reporting by Bloomberg, Treasury Secretary Steven Mnuchin is apparently a big fan of easing tariffs on China, while US Trade Representative Lighthizer is far cooler on the idea.

Key quotes

Neither Mnuchin nor Lighthizer has made any recommendations with respect to tariffs or other parts of the negotiations with China, according to a Treasury spokesperson working with the administration’s trade team who characterized the talks as an ongoing process.

Stocks initially surged after the report, before paring gains after the Treasury’s denial was published.

The report comes after China confirmed that Vice Premier Liu He will travel to Washington at month-end for a new round of trade talks. President Donald Trump has pledged to hike tariffs on Chinese goods if the two sides can’t negotiate a sweeping trade deal by March 1.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

GBP/USD keeps the vacillating tone near 1.3650

GBP/USD struggles to extend its ongoimg recovery on Monday, this time flirting with the 1.3650 zone. Indeed, Cable trades without clear direction, although it manages well to maintain its business in the upper end of the recent range, challenging multi-week tops despite the decent recovery in the Greenback.

EUR/USD drifts lower to the 1.1670 zone

EUR/USD navigates a tight range at the beginning of the week, hovering around the 1.1670 region amid humble losses. The pair’s decline follows a decent advance in the US Dollar while investors continue to closely follow developments from the US money market.

Gold pushes harder; focus is now on $4,700

Gold keeps its bullish pace well and sound and approaches the $4,700 mark per troy ounce for the first time since early May. The precious metal’s move higher comes despite slight gains in the US Dollar and a modest pullback in US Treasury yields across the curve.

Here's what I learned trading meme coins

I’ve been trading cryptocurrencies for the past seven years, with meme coins becoming one of the most exciting and implacable parts of my experience. I love them because they represent internet culture and community sentiment, and, let’s be honest, extreme speculation. Newly launched meme coins were especially tempting: get in early enough, I thought, and a small bet could turn into a huge return.

Bessent’s presser in focus

Preview: Busy week ahead, with Bessent kicking this off today, with things wrapping up with Warsh at Jackson Hole. For a month that should have been a temporary period of ‘quiet’, we had anything but last week, with the bond market and tariffs front and centre.

$20 billion offered, $2 billion taken: Why Treasury doubled its buyback cap

The US Treasury moved off its own calendar on Wednesday, and that is the part worth sitting with. At 12:32 GMT, the department said it would at least double the size of liquidity support buyback operations in the 10-year to 20-year and 20-year to 30-year sectors, lifting the maximum from $2 billion per operation to at least $4 billion, effective September 9 and running to November 4.