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Currencies off to cautious start, China-U.S. trade deal in focus
Major currencies were off to a cautious start on Monday as market players looked to whether Washington and Beijing can soon sign off on a deal to end their trade war that has been a drag on the global economic growth. Chinese state media Xinhua said on Sunday the two countries had “constructive talks” on trade in a high-level phone call on Saturday, but it gave no further details. Against the yen, the dollar was traded at 108.75 yen JPY=, recovering from 108.235 touched on Thursday as rising hopes of a U.S.-China trade deal undercut the yen. The currency faces a resistance around 109.00, where it has its 200-day ... (full story)