NEW YORK (Reuters) – The dollar rose against a basket of major currencies on Monday on traders’ bets that China and the United States are moving closer to a trade deal that would end sparring between the world’s two biggest economies.
The greenback gained for a fourth straight day, bolstered by the rise in U.S. bond yields with benchmark 10-year yields hitting one-month peaks last week.
The gap between benchmark 10-year yields in the United States and Germany has widened to 257 basis points from 240 basis points at the beginning of the year.
The United States and China appeared to be close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese imports, a source briefed on negotiations said on Sunday, but the timing and details for a deal remained unclear.
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