zhouyueyue: As the trend of protectionism sp

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NEW YORK, July 21 (Xinhua) -- The U.S. dollar traded lower against most major currencies on Friday as investors continued to ponder on European Central Bank (ECB)'s latest decision.

 

The ECB President Mario Draghi said on Thursday that "a very substantial degree of monetary accommodation" is still needed to support the euro area to move towards a sustained convergence of inflation rates to levels below Byron Jones Jersey , but close to two percent over the medium term."

 

The bank decided Thursday to keep key interest rates for the euro area at record lows.

 

Meanwhile, analysts said there appear to be growing concerns that Trump's pro-growth agenda, including tax reform, infrastructure spending and deregulation may take longer to pass than initially thought.

 

There are no major economic data due on Friday.

 

The dollar index Maliek Collins Jersey , which measures the greenback against six major peers, was down 0.44 percent at 93.887 in late trading.

 

In late New York trading, the euro rose to 1.1678 dollars from 1.1625 dollars, and the British pound increased to 1.3001 dollars from 1.2976 U.S. dollars in the previous session. The Australian dollar edged down to 0.7921 U.S. dollar from 0.7961 U.S. dollar.

 

The U.S. dollar bought 111.07 Japanese yen Jaylon Smith Jersey , lower than 111.87 yen of the previous session. The U.S. dollar fell to 0.9440 Swiss franc from 0.9515 Swiss franc, and it edged down to 1.2534 Canadian dollars from 1.2568 Canadian dollars.

 

Top Chinese leaders visit military exhibition

 

Road submerged due to flood in east China's Jiangxi

 

Shop blast leaves 2 dead, 55 injured in east China city

 

AOPA-China Fly-In 2017 air show opens in SW China's Guizhou

 

In pics: Xinjiang's most beautiful highway

 

23rd Summer Deaflympics opens in Samsun, Turkey

 

In pics: China's CH-5 drone completes trial flight

 

In pics: ethnic embroidery show in SW China's Yunnan

 

by Xinhua writer Gao Wencheng

 

BEIJING Xavier Woods Jersey , July 19 (Xinhua) -- China's efforts to rigorously reform and continue opening up of its financial sector will contribute to global efforts to contain risks, said analysts.

 

Against the backdrop of weak recovery from the financial crisis and policy uncertainties around the globe, a series of conferences were held recently in China to soberly delve into existing risks and possible ways to fend them off.

 

LINGERING RISKS

 

Although U.S. Federal Reserve Chair Janet Yellen has recently suggested that we might not experience another financial crisis "in our lifetimes," it is still too early to declare victory.

 

There exists risks for the United States pursuing a clean-up of balance sheet. Efforts to shore up the banking sector in parts of Europe are still lagging behind.

 

Speaking of global financial risks Jourdan Lewis Jersey , Bao Jianyun, a professor on world economy at the Renmin University of China, told Xinhua that "with the developed economies still on a slow-growth trend, western countries should strictly prevent their financial markets from systemic risks."

 

Appetite of top financial policymakers is shifting from crisis firefighting to domestic growth in some western countries. For instance Chidobe Awuzie Jersey , U.S. President Donald Trump's administration is proposing to roll back many of post-crisis financial regulations.

 

Ou Minggang, director of international finance research center at China Foreign Affairs University, said "the new president's new deregulation plan may benefit his country in short time but would add risks to international financial system."

 

The major risks facing Europe are the withdrawal of monetary stimulus by the European Central Bank and possible scenarios amid the Brexit.

 

Such uncertainties have resulted in "confidence risks," especially after protectionist moves by some countries to close their doors to overseas trade and investment Taco Charlton Jersey , Bao warned.

 

CHINA'S PLEDGE FOR MORE OPENING UP

 

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