Asian Markets Rally on Renewed US-China Trade Optimism
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Risk currencies surged across Asian markets as traders interpreted fresh signals of potential US-China trade negotiations. The Australian dollar jumped 0.5% to $0.6412 while New Zealand’s kiwi gained 0.4%, both tracking the offshore yuan’s strongest level since April at 7.2519 per dollar.
State media broadcasts from Beijing and comments from US Secretary of State Marco Rubio suggesting imminent talks ignited the rally. This follows weeks of market volatility triggered by tariff measures, with traders now pricing in reduced trade tensions between the economic superpowers.
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