FOREX-Yen slips, yuan advances as U.S.-China trade ceasefire lifts investor mood

The yuan gained and the safe-haven yen slid against the dollar on Monday as appetite for risk-sensitive currencies improved after the United States and China agreed to restart their troubled trade talks. In offshore markets, the Chinese yuan initially gapped up to as much as 6.8166 per dollar, its highest level since May 9. After meeting Chinese President Xi Jinping in Japan on Saturday on the sidelines of Group of 20 summit, U.S. President Donald Trump said he would hold back on new tariffs and that China will buy more farm products.

Source: Yahoo.com