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Moody’s: direct effects of proposed US tariffs on China are likely understated

The US-based ratings agency, Moody’s Investors Service, is out with the latest report, assessing the impact of the US tariffs on the Chinese economy.

Key Points:

Direct effects of proposed US tariffs on China are likely understated.

Impact of proposed tariffs towards China's exports and the economy is likely understated.

Full extent of overall impact will be seen through knock-on effects.

Domestic supply chain-related issues could magnify effect of the tariffs in specific sectors.

Hong kong 3-month hibor rate hits highest level since 2008

The three-month Hong Kong Interbank Offered Rate (HIBOR) hit 1.61607 pct - the highest level since 2008.  the Hong Kong Monetary Authority (HKMA) is
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Water-logged GBP/USD continuing to sink, 1.26 barely holding

The GBP/USD pair is trading flat through the Asia session, holding just above the 1.3600 handle ahead of the European market session. GBPUSD: Remains
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