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Yen rises, yuan drops on report of trade-talks stalemate
The yen rose and the yuan fell on Thursday, after a news report said deputy-level trade talks between Chinese and U.S. officials in Washington had failed to make much headway, sending investors scurrying for safety. The South China Morning Post, citing unnamed sources familiar with the discussions, said no progress was made on key issues and China’s lead negotiator, Vice Premier Liu He, planned leaving Washington a day early. The safe-havens of the yen JPY= and Swiss franc CHF= each rose as much as 0.3% though some of the gains were soon retraced after CNBC said the White House was unaware of any plans by the ... (full story)