MARKET NEWS
Dollar softens as US-China talks take spotlight - REUTERS
Summary
- US, China in trade talks in London
- Last week's better than expected US jobs report provides relief
- Japan tariff negotiator to visit US late this week, report says
- China's May exports slow, deflation deepens as tariffs bite
NEW YORK, June 9 (Reuters) - The U.S. dollar weakened against most major currencies on Monday, moving in narrow ranges, as market participants consolidated gains racked up following Friday's better-than-expected U.S. employment report and shifted their focus to pivotal U.S.-China trade talks in London.
The meeting of top officials from both countries intends to address disagreements around a preliminary pact struck last month in Geneva, briefly cooling tensions between the world's two largest economies. Negotiations could last up to two days.
The talks come at a crucial time for both sides, with China grappling with deflation and trade uncertainty dampening sentiment among U.S. businesses and consumers, prompting investors to reassess the dollar's safe-haven status.
