Trade optimism boosts major currencies against the dollar
Global financial markets are starting the week on a buoyant note, with risk-sensitive assets climbing amid hopes of a more lasting thaw in US-China trade relations. The dollar is retreating, benchmark Treasury yields are pushing lower, and equity futures are rising after negotiators on both sides said they had made significant progress on issues including tariffs, fees, and export controls in the weekend’s bilateral discussions in Kuala Lumpur. Treasury Secretary Scott Bessent noted that a “very successful framework” had been established ahead of this week’s meeting between President Trump and Xi Jinping. The Canadian dollar is—somewhat counter-intuitively—pushing higher even after...