Traders Hitch Fortunes to Yuan With Fixation on Currency Pact
- Goldman boosts yuan forecasts citing commitment on currency
- Regional currencies could enjoy a positive day, Oanda says
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Traders are returning to work Monday with a little less angst as the world’s biggest economies edge toward a trade deal.
All eyes were on the yuan as the U.S. and China discussed the critical issue of enforcement in a proposed agreement that would ensure Beijing lives up to its promise to not depreciate the currency. President Donald Trump said Sunday he’ll extend a deadline to raise tariffs on Chinese goods beyond this week, citing “substantial progress” in the talks. The discussions had already been extended into the weekend.