Home Economy China’s yuan ticks higher as investors shrug off dollar strength

China’s yuan ticks higher as investors shrug off dollar strength

2
    SHANGHAI, Nov 17 (Reuters) - China's yuan ticked higher
against the dollar on Wednesday, as heavy corporate demand for
the local currency outweighed broad greenback strength and an
amicable meeting between U.S. and Chinese leaders broadly
supported the investor mood.
    Presidents Joe Biden and Xi Jinping held an hours-long
virtual meeting on Tuesday. Although it appeared to yield no
immediate outcomes, it gave the two leaders opportunity to nudge
their relations away from icy confrontation.
    Trade disputes failed to appear as the top agenda, but
investors still hoped further improvements in bilateral
relations and chances of partial tariff removals.
    "There was no mention of the trade deal or tariffs in either
readout, despite their major role in the U.S.-China economic
relationship at the moment, and despite the participation of
both Vice Premier Liu He and Treasury Secretary Janet Yellen in
the meeting," analysts at Goldman Sachs said in...

Click here for full article…www.reuters.com