Economic news

Dollar pares decline as trade talks hopes revive

The dollar's rise was limited while China's yuan gained on Thursday after news that President Trump administration was seeking a new round of trade nagotiations with its Chinese counterparts cut safe-haven demand for the greenback.

Photo: Reuters

The dollar index was stable at 94.795 after losing near 0.5 percent on Wednesday. The dollar rose 0.15 percent to 111.41 yen after falling sharply 0.4 percent in the previous session.

China’s yuan surged 0.3 percent to 6.8450 a dollar in onshore trade, recovering from a 2-1/2-week trough of 6.8800 plumbed in the previous session.

The Aussie edged up 0.3 percent to $0.7194 after rising 0.7 percent overnight.

Sterling was stable at $1.3052 after climbing 0.1 percent in the previous session after Prime Minister Theresa May’s allies in the Conservative party publicly pledged support.

The euro ticked up 0.1 percent to $1.1638 ahead of the European Central Bank policy meeting.

Turkey’s lira was steady at 6.3475 per dollar. It had dropped to a record weak point 7.2400 in mid-August.


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