FILE PHOTO: U.S. dollar and Euro bank notes are photographed in Frankfurt, Germany, in this illustration picture taken May 7, 2017. (REUTERS/Kai Pfaffenbach/Illustration/File Photo)
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The dollar traded near a two-week low against a basket of currencies on Wednesday after Chinese President Xi Jinping's promise to cut import tariffs eased concerns about a U.S.-China trade conflict.The improvement in risk sentiment gave a boost to commodities-linked currencies and emerging market currencies and weighed on the U.S. dollar as well as the Japanese yen.The yen was little changed at 107.05 yen per the U.S. dollar, giving back some of the 0.4 percent fall on Tuesday when the Japanese currency slipped broadly.The dollar, however, could extend its gains if it manages to rise above 108 yen, Innes said, adding that some stop-loss dollar buying could emerge at such levels.
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