The yuan strengthens to 6.7850 against the dollar amid U.S.-China talks targeting $30 billion in tariff reductions.
The Chinese yuan climbed to a three-month high against the U.S. dollar, trading at 6.7850 during Asian hours as Presidents Trump and Xi met in Beijing. The currency pair fell to a 39-month low of 6.7815 earlier in the session, reflecting cautious optimism ahead of the summit.
Traders are monitoring discussions that may include a “Board of Trade” framework to cut tariffs on $30 billion in non-sensitive goods. The meeting, delayed by Middle East tensions, also covers Iran, AI, and Taiwan, with markets seeking signs of de-escalation.
Xi emphasized mutual opportunities for both nations, while Trump expressed optimism about future relations. Analysts note the talks could ease trade war concerns if concrete agreements emerge.