The Australian dollar and the Chinese yuan rose early Monday on hopes Washington...
TOKYO - The Australian dollar and the Chinese yuan rose early Monday on hopes Washington and Beijing were close to a trade deal after a bitter year-long tariff dispute.Fuelling such expectations was a report from the Wall Street Journal on Sunday that said the United States and China could reach a formal agreement at a summit around March 27 given progress in talks between the two countries.
The yuan has been supported since late last month by hopes that Washington and Beijing could reach a trade deal later this month. “We have a gentleman that likes a very strong dollar at the Fed... I want a strong dollar, but I want a dollar that’s great for our country not a dollar that is so strong that it is prohibitive for us to be dealing with other nations,” he told his supporters in a speech.
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