China’s offshore yuan fell the most in a year to pare a record weekly rally, while Mexico’s peso climbed after the central bank sold dollars. European shares fell and Asian equities were mixed before the monthly U.S. jobs report. Oil declined.
The yen, euro and British pound all weakened for the first time in three days and the Turkish lira extended its loss. European equities declined the most in a week and U.S. futures signaled losses, while the MSCI Asia Pacific Index halted a two-day advance. The three-month interbank lending rate for the offshore yuan rose to a record in Hong Kong.
China is risking eroding confidence in its currency by repeatedly tightening capital controls, according to hedge-fund manager Benjamin Fuchs. While the stock rally and Treasury rout that greeted Donald Trump’s win have been under threat for the past month, the dollar stabilized Friday after a two-day tumble. The U.S. jobs report is expected to confirm a sixth straight year with more than 2 million jobs added, a pace that could be difficult to sustain.
Peso: Banxico Sells a Fistful of Dollars.
Are Sterling Traders Overlooking UK Economic Reslience?
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