Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Boris Johnson will be meeting President Donald Trump to discuss a potential post-Brexit trade deal just as he tries to court EU leaders for a new withdrawal agreement.World Politicsread more
U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Accountants in Hong Kong took to the streets on Friday to call for the government to accept five demands of the people, including the complete withdrawal of a now-suspended...China Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
The unlikely alliance would in theory enjoy a relatively comfortable majority in the parliament's lower house but would rely on a handful of sympathetic but unaligned...Europe Politicsread more
Bank Indonesia on Thursday cut its key policy rate by 25 basis points to 5.5% to support growth amid an increasingly fragile global economy.Central Banksread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The U.S Energy Information Administration (EIA) says Australia is on track to consistently export more LNG than Qatar.Oil and Gasread more
worsens@ (Recasts with comments on yuan value, details on tariffs)
WASHINGTON, Aug 9 (Reuters) - The International Monetary Fund on Friday stood by its assessment that China's yuan valuation was largely in line with economic fundamentals, but an IMF official said the fund was encouraging China to pursue a more flexible exchange rate with less intervention.
James Daniel, director of the IMF's China department, said that an assessment of China's economic policies found the yuan exchange rate in 2018 to be "not significantly over-valued or under-valued."
The IMF's views on the yuan are at odds with those of its largest shareholder, the United States, which this week declared China a "currency manipulator" after it allowed the yuan to slip below 7 to the dollar.
U.S. Treasury Secretary Steven Mnuchin is seeking to engage the IMF to help "correct" an unfair trade advantage from Beijing's currency actions, but Daniel declined to say how the IMF was responding to the request.
"Our discussions with the U.S. Treasury are ongoing on a range of issues," Daniel told reporters on a conference call, echoing an earlier statement from an IMF spokesperson.
The IMF said in the report that a worsening of trade tensions with the United States could put China's economic and financial stability at risk, making new fiscal stimulus measures from the government warranted. (Reporting by Jonas Ekblom; editing by Jonathan Oatis and Leslie Adler)