Economic news

Dollar enjoys rise on good signals from Trump-Kim summit

The dollar climbed to almost a three-week peak versus the yen on Tuesday after U.S. President Donald Trump and North Korean leader Kim Jong Un held historic negotiations, discussing defusing tensions and the denuclearisation of the Korean peninsula.

Photo: Reuters

The greenback advanced to as high as 110.495 yen, its highest since May 23. The euro lost 0.2 percent to $1.1763.

The dollar index surged 0.25 percent to 93.789 .DXY.

The Aussie ticked up 0.1 percent to $0.7617 after dipping earlier to $0.7584.

The U.S. Federal Reserve holds a two-day meeting starting on June 12, and it is widely expected to raise policy rates by 25 basis points. The traders wonder how many interest rates hikes Fed would be set to deliver in 2018.

The European Central Bank also has a meeting on June 14, when it could signal plans to begin unwinding its program of asset purchases.

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