2019 August, 28, 01:55:47 AM

Yuan Falls Amid Conflicting Signs On Trade War; Yen Gains

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By Investing.com---

The Chinese yuan fell against the U.S. dollar on Tuesday in Asia amid conflicting signals on the Sino-U.S. trade war.

The USD/CNY pair traded 0.1% higher to 7.1610 by 11:47 PM ET (03:47 GMT).

 

Speaking at the G7 summit in Biarritz, France, U.S. President Donald Trump said that he had received two phone calls from Chinese officials over the weekend urging new trade talks.

The yuan received some support following his comments, as they eased some fears over the latest escalation in the trade war. However, China’s foreign ministry later said it was not aware of any U.S. - China phone calls, raising doubts on whether the two sides would be able to resolve the trade issues in the near future. Read more on investing.com

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