The yuan rose while the safe-haven yen fell on Tuesday in Asia as trade tensions between the U.S. and China eased.<\/p>\n\n\n\n
The USD\/CNY<\/a> pair fell 0.3% to 6.8743 by 11:45 PM ET (03:45 GMT).<\/p>\n\n\n\n Just two days before the signing of the phase one trade deal, the Trump administration announced that it was removing China from its designation as a currency manipulator. However, China remained on a monitoring list for foreign-exchange practices.<\/p>\n\n\n\n The administration praised China for making \u201cenforceable commitments\u201d not to devalue the yuan. The Chinese currency has now recouped about a third of the losses it sustained against the dollar since mid-June 2018.<\/p>\n\n\n\n \u201cThe yuan\u2019s outperformance since last week has reflected the improving risk sentiment, thanks to signs of the economy bottoming out,\u201d said Tommy Xie, an economist at Oversea-Chinese Banking. \u201cThere\u2019s some speculation that China may get a better trade deal than expected.\u201d<\/p>\n\n\n\n Chinese Vice Premier Liu He is expected to seal the partial trade deal with the U.S. in Washington on Wednesday.<\/p>\n\n\n\n On the data front, China\u2019s exports<\/a> and imports<\/a> both rose in 2019, according to the General Administration of Customs.<\/p>\n\n\n\n In yuan terms, 2019 exports rose 5% from a year ago while imports 1.6% in the same period.<\/p>\n\n\n\n Meanwhile, the safe-haven yen<\/a> dropped against the U.S. dollar as investor sentiment improved following the trade news.<\/p>\n\n\n\n The yen weakened past 100 per U.S. dollar for the first time in almost months earlier in the day.<\/p>\n\n\n\n \u201cThe dollar-yen rose to 110 amid improved risk sentiment and technical momentum,\u201d said Kumiko Ishikawa, currency analyst at Sony Financial Holdings Inc. in a Bloomberg report. \u201cWhether it will extend its advance further depends on fresh catalysts including U.S. data and the extent of rise in U.S. yields.\u201d<\/p>\n\n\n\n Easing U.S.-Iran tensions were also cited as a headwind for the Japanese currency.<\/p>\n\n\n\n The U.S. Dollar Index<\/a> edged up 0.1% to 97.105.<\/p>\n\n\n\n The AUD\/USD<\/a> pair and the NZD\/USD<\/a> pair both inched down 0.1%.Forex – Yuan Rises, Yen Falls as Trade Tensions Ease Add a Comment<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The yuan rose while the safe-haven yen fell on Tuesday in Asia as trade tensions between the U.S. and China eased. The USD\/CNY pair fell 0.3% to 6.8743 by 11:45 PM ET (03:45 GMT). Just two days before the signing of the phase one trade deal, the Trump administration announced that it Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1891","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1891"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1891\/revisions"}],"predecessor-version":[{"id":1892,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1891\/revisions\/1892"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}