Dollar Stumbles after US and China hold off on tariff escalation

The US dollar weakened after the US and China agreed to hold back and the investors demand riskier assets rose.

The White House said on Saturday that President Donald Trump told China’s president Xi Jinping that he would not raise tariffs on $200 billion of Chinese goods to 25 percent on January 1 as previously announced.

Both countries will attempt to bridge their differences via new talks aimed at reaching a deal within 90 days.