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Bloomberg
The dollar fell against the yuan and commodity-related currencies in Asia-Pacific trading on Monday after the US and China backed down from threats to escalate their trade war. Haven currencies weakened.
The yen and Swiss franc, which tend to act as refuges in times of market distress, declined against the greenback, while the Australian dollar — a proxy for risk and China-related news — gained 0.2 percent.
The upbeat market moves follow the conclusion of a high-stakes meeting between US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 summit that alleviated the immediate risk of more tariffs.