Dollar Gains Versus Yen On US-China Optimism
The dollar climbed in early Asian trade on Monday after weekend talks between the United States and China eased concerns of a trade war between the world's two biggest economies while global hot spots appeared to cool.
The greenback, Treasuries and equities have taken a beating since sweeping tariffs announced by U.S. President Donald Trump last month shook confidence in American assets. After talks in Geneva, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer on Sunday said a deal had been reached with China to cut the U.S. trade deficit.Tuesday's U.S. CPI reading for last month will give a fresh read on inflation trends, while April retail sales on Thursday offer the latest window into consumer spending. Jobs data is also expected on Thursday for the U.S. and Australia.
The U.S. currency climbed 0.6% to 146.19 yen. The dollar index added 0.1%, hovering near a one-month high. The gauge is still down 3.5% from the April 2 announcement of Trump's 'Liberation Day' tariffs.
New Zealand's kiwi dollar, a common proxy for risk assets, advanced 0.3% to $0.5924. The Australian dollar fetched $0.6425, up 0.2%.
The euro stood at $1.1224, down 0.2%. Sterling slid 0.3% to $1.3277.
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