Yen slips, Aussie rises as worries recede over U.S.-China trade
LONDON - Australia’s dollar and the Chinese yuan gained on Wednesday on hopes for an agreement between Beijing and Washington to end their trade conflict.
For currency markets, that meant a rebound in the Aussie, long seen as a proxy for China given Australia’s export industries, and China’s yuan. “The conclusion is that the trade talks this week is crucial – either a deal can be done, or the negotiation will be extended again to June at least,” Commerzbank analysts said in a note.
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