The Chinese currency has stated the week with weakening affected by further escalation of the US-China trade issue over the past weekend.
According to the news reports, the past weekend was marked by the first time when the members of the Asian Pacific Economic Cooperation failed to come to terms regarding communique.
Specifically, the chairman of the meeting, prime minister of Papua New Guinea stated that two members of the cooperation failed to find common ground. Moreover, Washington and Beijing still cannot agree on whether the future declaration may include such issues as the WTO and reforming of the WTO.
The US Dollar index was at 96.25.
The US dollar-to-yuan soared on Monday to 6.9430. The greenback got stronger against the Japanese yen reaching some 112.83. In Japan, the economic report showed that the country's exports rose by 8.2% y-o-y in October, though the forecast was set at 9%.
As for the sterling, the British currency improved now to 1.2868. The market keeps watching for the sterling movement following the recent selloffs on the Brexit uncertainties.
Some officials in the USA were quite careful with the global economic upturn outlook, saying that this would affect the forecast for the USA. In particular, it was stated that Europe and China can record slower economic growth.