Economic news

Euro inches up, yuan surges on extended trade concerns

The euro advanced versus the dollar on Wednesday but the gains were capped by trade war worries, which kept many traders cautious.

Photo: Reuters

The single currency ticked up 0.1 percent to $1.1665. Euro area business survey figures are due later in the day.

The dollar slid 0.2 percent versus a basket of six major currencies to 94.505, after posting three straight months of gains.

The yuan climbed 0.8 percent to 6.6168 as the currency extended its rebound from an 11-month trough after the central bank took steps to stop its fast decline.

The Aussie inched up to $0.7403, recovering from an 18-month low around $0.7311.

The yen rose 0.2 percent to 110.36 a dollar, its highest point in a week.

Sterling was up 0.2 percent at $1.3219, its top in more than a week.

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