Sharjah24 – Reuters: The dollar eased broadly against riskier currencies and the yuan scaled a five-month high on Tuesday, as talks between U.S. and Chinese leaders seemed to have an amicable start, while traders awaited looming U.S. retail sales data.
The euro also scraped off a 16-month low and rose almost 0.2% to $1.1383 as it licks wounds from a drubbing on Monday amid concerns about COVID-19 outbreaks and pushback on rate hike expectations from Europe's central bank chief.
Calling U.S. President Joe Biden an "old friend," his Chinese counterpart Xi Jinping said their countries must increase communication and cooperation. Both leaders stressed their responsibility to avoid conflict in opening remarks.
By the halfway point in talks, the yuan had climbed to its highest since June in onshore trade at 6.3666 per dollar. The risk-sensitive Australian and New Zealand dollars also rose about 0.2% each while the safe haven yen eased a fraction.
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