Asian Currencies Consolidate as Focus Turns to Trump-Xi Meeting — Market Talk

Asian currencies consolidate against the dollar in early trade. Markets will scrutinize a meeting between President Trump and Chinese leader Xi Jinping later this week for signals on the future direction of U.S.-China relations, MUFG Bank analysts say in a report. Economic and trade issues are likely to dominate discussions, while technology and artificial-intelligence-related restrictions are expected to remain key areas of contention. "Any constructive post-meeting statement would support Chinese assets and regional supply-chain beneficiaries," they say. The dollar is little changed at 156.87 yen and 6.6943 offshore Chinese yuan, while the Australian dollar edges 0.1% higher to US$0.7125, LSEG data show. (amanda.lee@wsj.com)