Dollar Subdued Despite Easing Sino-U.S. Trade Tensions

The dollar remained subdued in Asia on Wednesday morning despite the conciliatory comments from the leaders of the U.S. and China that eased the trade tensions between the two countries. The inflation data from Japan and China were also in focus.

The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 89.31 at 10:55PM ET (02:55 GMT), down 0.01%. The dollar hit this week’s low at 89.27 overnight.

U.S. President Trump praised his Chinese counterpart Xi Jinping’s kind words on tariffs and automobile barriers, as Xi said he supported free trade and dialogue to resolve disputes in his speech at the Boao Forum. Xi also pledged to open China’s banking and auto manufacturing sectors.

Investors also await the U.S. March core consumer price index (CPI) that is due later in the day. Economists expect the CPI, a measure of inflation, to remain unchanged at 0.2%, while core year-on-year CPI is expected show a rise of 2.1% from 1.8% in February.

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