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On Monday, U.S. President Donald Trump said he would postpone tariff increases on Chinese goods, citing "fruitful" trade negotiations, and he and Chinese President Xi Jinping would hold talks, with the Australian dollar and the yuan rising on Monday. The summit reached an agreement.
The more liquid Australian dollar, believed to be a risk to China, rose 0.5% to $0.7162 against the dollar in response to Trump's Twitter posting in the Asian trading period earlier Monday.
The onshore renminbi rose 0.6% to 6.6730 yuan against the dollar, the highest level since mid-July.
Trump's statement is the most obvious sign that China and the United States are reaching an agreement to end months of trade war that has slowed global economic growth and disrupted markets.


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