Currencies
Yuan Gains as Trump Dials Back Tariff Threats
- Trump says he would rather not have to use tariffs on China
- Australian, New Zealand dollars advance while greenback drops
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The yuan advanced alongside assets sensitive to China’s economy, amid signs that President Donald Trump is dialing back threats of slapping higher tariffs on exports there.
The Chinese currency rallied to the strongest in six weeks in both onshore and overseas trading, after Trump said in an interview with Fox News that he would rather not have to use tariffs against the world’s second-largest economy. The Australian and New Zealand dollars both gained more than 0.5%, while benchmark Treasury yields edged lower.