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Investors see safety in yuan as trade deal nears

SHANGHAI: China’s yuan, fresh from a second year of weakening against the US dollar, is enjoying an unusual turn as a haven as Washington and Beijing prepare to sign an eagerly awaited Phase 1 trade deal this week.Analysts and traders say that Beijing might also be encouraging a firmer yuan as a concession to US President Donald Trump, who has repeatedly accused China in the past of unfairly devaluing its currency, with some speculating that the trade deal could include a moratorium on currency manipulation.SHANGHAI: China’s yuan, fresh from a second year of weakening against the US dollar, is enjoying an unusual turn as a haven as Washington and Beijing prepare to sign an eagerly awaited Phase 1 trade deal this week.Analysts and traders say that Beijing might also be encouraging a firmer yuan as a concession to US President Donald Trump, who has repeatedly accused China in the past of unfairly devaluing its currency, with some speculating that the trade deal could include a moratorium on currency manipulation.