Mr Trump on Thursday criticized the Fed's series of rate increases, breaking with more than two decades of White House tradition of avoiding comments on monetary policy out of respect for the independence of the USA central bank. Like numerous Trump-related bluster and volatility, expect markets to experience a degree of exposure therapy to future Fed and currency comments, stripping them of much of their impact. Although it looked like the negative impact of Trump's comments on the USD was starting to fade away on Friday, the US Dollar Index, once again, turned south as Trump went on to Twitter to remind investors about his views on the Fed's policy outlook. Against a basket of six major currencies, the USA dollar fell 0.6 percent to 94.578, way below the one-year high of 95.62 reached in the previous session.
Hong Kong ended the day flat while Seoul and Sydney slid 0.9 percent.
U.S. stocks were largely unchanged on Friday as escalating trade anxieties driven by U.S. President Donald Trump's latest tariff threats against China offset a string of robust earnings led by Microsoft Corp.
It was last down 0.2% at 94.27, the lowest in more than two weeks. The dollar plummeted 0.5%, from its 12-month high, in a matter of minutes following remarks that he isn't thrilled about higher rates and has since clawed some of those losses back.
The behavior of the Central Bank of China represents the beginning of a currency war.
St. Louis Federal Reserve Bank James Bullard said on Friday the Fed would remain unaffected by Trump's comments on monetary policy and expressed concerns about rising tariffs.
Trump accuses China of using 'vicious' trade tactics
Fourthly, we agreed today to join forces to protect American and European companies better from unfair global trade practices. The U.S. president also said the limited pact also would benefit the American chemical and pharmaceutical industries.
Underground lake found on Mars, raising possibility of life
The lake, believed to be minus-90 degrees Fahrenheit, is similar to what lies beneath the ice cap in Greenland and the Antarctic. In a big scientific breakthrough, scientists have reportedly found a sizable liquid lake on the southern polar plain of Mars.
Put MacBook Pro laptop in freezer to beat Apple glitch
The CPU is performing better now, but the cooling system inside of something as thin as a MacBook Pro can only do so much. The CPU clock speed was found to have been throttled, findings that had been confirmed by multiple publications.
In the CNBC interview broadcast Friday, Trump reiterated his claim that the United States is "being taken advantage of" on issues including trade policy. This comes after Fed Chairman Jerome Powell's two-day congressional testimony where he said the USA was on course for years more of steady growth and reaffirmed expectations for more interest rate rises.
The pan-European FTSEurofirst 300 index lost 0.15 percent, amid rising trade tensions.
The growing share of worldwide trade under threat - including the tariffs on autos and auto parts now under consideration - could harm the global economy by disrupting manufacturing supply chains, raising prices and causing firms to hold off on new investments. It pledged to buy 10-year bonds at yield of 0.11%, the same level at which it has intervened in the past.
Asian shares dipped on Monday on fears of more protectionist measures from the United States while the dollar declined against major currencies after U.S. President Donald Trump criticised the Federal Reserve's tightening policy.
"Although US equities edged lower on Friday and the yen strengthened, most cross-asset moves are supportive of APAC [Asia-Pacific] equities - particularly dollar weakness, strength in emerging-markets FX, and a dramatic bear steepening of global yield curves". Gold bounced consequent to this, managing to climb back above $US1230 an ounce, and saving itself from a close below the bottom of its downward trend channel. -China trade tensions and supply increases meant oil prices saw their third weekly loss.
The expiring U.S. West Texas Intermediate (WTI) crude for August delivery settled up $1.00 at $70.46 a barrel, while the more liquid September contract rose 2 cents to $68.26 a barrel. Within hours of being sworn in as Treasury chief past year, Mr Mnuchin was warned by counterparts from Tokyo to Berlin that the new US administration should refrain from talking about currencies. Brent eased 10 cents to $72.97.