The dollar and offshore Chinese yuan rallied on Monday after the United States a...
LONDON - The dollar and offshore Chinese yuan rallied on Monday after the United States and China agreed to restart their troubled trade talks, while the Japanese yen and Swiss franc were the big casualties as investors sold safe-haven currencies.
While reports of an agreement had been flagged ahead of U.S. President Donald Trump and his Chinese counterparty Xi Jinping’s meeting on the sidelines of the G20 meeting, the outcome was more positive than investors had expected.Trump also said the U.S. Commerce Department would study whether to take Huawei [HWT.UL] off the list of firms banned from buying components and technology from U.S. companies without government approval.China’s offshore yuan rose more than 0.5% to as high as 6.
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