WASHINGTON (dpa-AFX) - The U.S. dollar firmed up on Monday, rebounding from losses in the previous session, amid renewed optimism about U.S.-China trade talks after President Donald Trump said Chinese officials contacted U.S. trade officials and offered to resume negotiations.
The dollar had taken a beating on Friday as trade tensions escalated following the Trump administration announcing additional tariffs on about $550 billion worth of Chinese goods after China imposed tariffs on $75 billion worth of U.S. products.
In Monday's session, the dollar index rose to 98.09, gaining nearly 0.5%.
Against the euro, the dollar strengthened to 1.1101, rising about 0.4% from previous close.
Against Pound Sterling, the greenback rose 0.6% to 1.2208 a unit of Sterling.
The Japanese currency weakened to 106.30 yen a dollar after having hit a high of 104.46 a dollar in early deals.
Against Swiss franc, the dollar gained about 0.5% with the pair trading at 0.9791.
Against the loonie, the dollar was down 0.2% at 1.3257, while against the Aussie, it was up 0.3% at 0.6776.
Speaking on the sidelines of the G7 meeting in Biarritz, France, Trump told reporters that China has requested U.S. trade team to continue negotiations and he would accept the offer.
'China called last night our trade people and said let's get back to the table. So, we'll be getting back to the table. And I think they want to do something,' Trump said.
'They've been hurt very badly, but they understand this is the right thing to do. And I have great respect for it. I have great respect for it. This is a very positive development for the world,' he added.
However, Chinese Foreign Ministry spokesman Geng Shuang said he was not aware of any call between U.S. and Chinese officials and Trump refused to provide details.
Meanwhile, China's Vice Premier Liu He remarked that Beijing is ready to solve the problem through consultation and cooperation with a calm attitude.
China firmly opposes the escalation of the trade war, he told at the opening ceremony of 2019 Smart China Expo in Chongqing.
In economic news from the U.S., data released by the Commerce Department showed a continued spike in orders for transportation equipment contributed to a bigger than expected jump in durable goods orders in the month of July.
The report said durable goods orders surged up by 2.1% in July following a downwardly revised 1.8% increase in June. Economists had expected orders to climb by 1.1% compared to the 1.9% jump that had been reported for the previous month.
Copyright RTT News/dpa-AFX
© 2019 AFX News
