The U.S. dollar advanced against the yen on Tuesday thanks to growing optimism t...
TOKYO - The U.S. dollar advanced against the yen on Tuesday thanks to growing optimism the United States and China are on the verge of reaching a preliminary agreement to scale back their bruising trade war.
The yen and the Swiss franc, two currencies that are often bought as safe havens during times of economic or political strife, nursed losses as investors became more comfortable taking on risk. In recent days, Beijing and Washington have given encouraging signs of progress in trade talks. The U.S. government is considering dropping some tariffs on Chinese goods, the Financial Times reported on Monday.
Both countries have slapped tariffs on each other’s goods in a trade war that has dragged on for 16 months and raised the spectre of a global recession.
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