Hopes for U.S.-China Trade Deal Jolt Foreign-Exchange Markets
The Taiwan dollar gained more than 5% against the greenback, on pace for its largest one-day gain since 1993, according to FactSet data. The offshore Chinese yuan, the more freely traded version of China's currency, the Japanese yen and the Australian dollar all gained less than 1% against the dollar. China said Friday it was evaluating starting talks with the U.S. to halt a trade war, but only if Washington shows “sincerity” through measures such as by canceling tariffs against Beijing.