Earnings in Yuan, decline of the US dollar on the prospects of trade agreements by Investing.com


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Investing.com – The Chinese Yen advanced against the US dollar, while the greenback traded slightly lower in Asia on Monday, as the prospects for a Sino-US trade deal boosted investors' appetite for cash. riskier assets.

Trade talks between the United States and China will continue in Washington this week after the two sides concluded the latest round of talks in Beijing last week.

The United States and China have reported progress in trade talks, although US President Donald Trump said Friday that the talks were "very complicated." He added that it could extend the deadline of March 1 and keep tariffs on Chinese goods up.

The last pair was traded at 6.7547 around 23:52 (04:52 GMT), down 0.2%.

At the same time, the Federal Reserve is expected to release a report of its January meeting on Wednesday, which kept rates unchanged and surprised markets by adopting a more accommodating stance on future rate hikes, citing controlled inflation and growing risks for global economic growth.

A number of Fed officials, including New York Fed President John Williams, St. Louis Fed President James Bullard, and Fed governors Randal Quarles and Richard Clarida are expected to take speak at the US Monetary Policy Forum later this week.

Slipped 0.1% to 96.610.

The greenback declined on Friday after Mary Daly, president of the San Francisco Fed, hinted that the central bank could delay interest rate hikes in 2019. The US dollar recorded the second week of losses and pulled back 1.7% since the beginning of the year.

Elsewhere, the pair rose 0.2% to 0.7151. The Reserve Bank of Australia is scheduled to release the minutes of its latest policy-making meeting on Tuesday.

The pair increased slightly by 0.1% to 110.53.

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