LONDON, Sept 10 — The dollar edged lower today as pro-growth currencies gained following a rise in the Chinese yuan to a one-week high on news that US President Joe Biden and Chinese leader Xi Jinping spoke for the first time in seven months.
“We have seen USD/CNH go offered on the news and any surprise improvement/reset in US-China relations could see USD/CNY move further away from the key 6.50 threshold,” said ING strategists in a morning note to clients. The Japanese yen lost 0.2 per cent against the dollar to ¥109.97 while still meandering in the middle of its range of the past two months.
The greenback has rebounded from a payrolls-induced sell-off last week, as a number of Federal Reserve officials have come out to suggest a taper is still likely this year.
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