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U.S./China tariff truce causes USD to drop

By MoneyWay | Dec 3, 2018

The U.S. dollar fell broadly on Monday, as currencies battered by trade tensions between the United States and China staged a comeback after leaders from the two countries declared a truce on tariffs.

China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between U.S. President Donald Trump and Chinese President Xi Jinping. The offshore yuan CNH gained about 1 percent to 6.8813, while the Aussie – viewed as a barometer of Chinese growth – was 0.7 percent higher against the greenback.

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