SHANGHAI: China’s yuan slipped against the dollar on Monday, as investors carefully monitored the greenback’s movements in global markets and developments in trade tensions between the world’s two largest economies.
Currency traders said they will also pay attention to China’s April manufacturing data due on Wednesday for signs of any impact on the economy from US President Donald Trump’s 145% tariffs on Chinese goods.
While Trump has claimed progress is being made on trade with China, and many other countries, actual evidence is lacking. Treasury Secretary Scott Bessent failed on Sunday to back Trump’s assertion that tariff talks with China were under way.
“We think China will leave the door open for negotiations, but won’t be in a rush to reach a deal with the US,” economists at Barclays said in a note.
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