Market News
Dollar holds gains, yuan jumps from US-China trade pact - REUTERS
By Rae Wee
Summary
- Dollar clings to most of its gains
- China's yuan climbs to six-month high
- Yen, euro nursing steep losses
SINGAPORE, May 13 (Reuters) - The dollar retreated slightly on Tuesday but held most of its gains on lingering optimism over a tariff deal between the United States and China, which tapped the brakes on a trade war between the world's two largest economies.
Washington and Beijing on Monday announced an agreement to slash the massive tariffs they had imposed on each other for 90 days, sparking a relief rally across markets that swept up global stocks and sent the dollar surging.
