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Yuan, Futures Jump On Report China Delegation Coming To US To Discuss Trade

Yuan, Futures Jump On Report China Delegation Coming To US To Discuss Trade

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The Yuan is surging, alongside S&P futures, while the Japanese Yen has erased its gains and US Treasury futures are slumping on a Bloomberg report that China’s Vice Commerce Minister, Wang Shouwen, will lead a delegation to the U.S. in late August, the Ministry of Commerce says on website, adding that the visit comes at the invitation of the US.

 

Additionally, China reiterates that it opposes unilateralism and trade protectionism, and won’t accept any unilateral trade restriction measures. It also “welcomes communications and dialogue on the basis of equality and integrity.”

 

The news is quickly being interpreted by the market as a possible thaw in the trade war tit-for-tat, and has sent H-shares sharply higher, while S&P futures jumped 10 points:

Source: Yuan, Futures Jump On Report China Delegation Coming To US To Discuss Trade