The yen gained slightly and the yuan slipped a tad in early Asian trade on Monda...
TOKYO - The yen gained slightly and the yuan slipped a tad in early Asian trade on Monday on a media report that China wants the scope of this week’s trade talks and any deal with the United States to be narrow.
That report knocked down the dollar against the yen during thin early Monday trade to as low as 106.55 yenThe U.S. currency has so far found some support around a one-month low of 106.48 touched last week.The yuan weakened about 0.20% in offshore trade to 7.1285 yuan per dollar. There was no onshore trading as Monday is the last day of China's holiday break for its national day.
Trump last month delayed hiking levies on $250 billion worth of Chinese imports to 30% from current 25% to Oct 15. from originally scheduled Oct. 1 “as a gesture of good will”. Such worries eased slightly after U.S. September non-farm payrolls data on Friday came in fairly strong and the jobless rate fell to near a 50-year low.
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