SINGAPORE ¨C The dollar struggled to make headway on Tuesday as an unprecedented two-day surge in its Taiwanese counterpart spilled over to other regional peers and highlighted the fragility of the U.S. currency.
The past two-day sharp moves in the Taiwan dollar subsided during the session, but Hong Kong¡¯s de-facto central bank intervened to stop the local currency from strengthening and China¡¯s yuan jumped in its return from an extended break.
Investors were also awaiting actual progress in trade negotiations with the United States and evidence of a thaw in Sino-U.S. relations, as opposed to just hints from officials.
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