Dollar drops with treasuries on U.S, China trade talk plans


The dollar fell while European stocks climbed alongside United States equity futures on renewed hopes for ease of trade tensions between China and U.S.

The Chinese currency, yuan jumped and treasuries dipped while the Stoxx Europe 600 Index rose, with most sectors in the green, while futures on the S&P 500, Dow and Nasdaq indexes all gained.

The greenback, which has seen recent strength on its role as a haven, fell for the first time in six days.

Stocks stayed lower in most Asian markets in the wake of disappointing earnings from tech giant Tencent Holding, though pared declines after China said its Vice Commerce Minister would visit the U.S. for talks in late August.

Hopes for a détente in the trade dispute gave China’s yuan a boost.
In Europe, the pound climbed after data showed U.K. retail sales bounced back in July.

Analyst believe that the potential for a breakthrough in the trade standoff between China and the U.S. is helping shake off some of the caution that’s weakened risk assets over the past week.

The lira continued to strengthen Thursday after Turkey moved to deter short-selling of the currency while Qatar promised to invest $15 billion in the country’s economy.

Peace PIAK