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China's yuan slips as investors await Trump-Xi talk details
HONG KONG: China’s yuan dipped against the dollar on Thursday, as rising near-term Federal Reserve rate hike expectations drove the greenback higher, while cautious investors awaited the outcome of the Trump-Xi summit in Washington. The US dollar rallied to its highest level in nearly two months overnight as investors’ expectations of a near-term rate hike grew, pushing benchmark 10-year Treasury yields to their highest since 2007. Rising US yields and Fed tightening expectations have supported the dollar but heightened pressure on the yuan and other Asian currencies, analysts said. The spot y...
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