China fixes currency at 3-year high ahead of Trump-Xi meeting

AI Summary

China's currency is set at a three-year high as it approaches the upcoming Trump-Xi meeting. This adjustment comes amid reports indicating easing deflationary pressures within China's economy, the second-largest globally. Such a currency fix may have implications for trade dynamics and international relations, particularly concerning tariffs and trade balances. Maintaining a strong currency could impact the competitiveness of Chinese exports and influence market perceptions.