Yuan and dollar fall as trade deal ride continues

On Monday, the dollar and the yuan fell in Asia as deal negotiations continue.

The Dollar Index slipped 0.1% to 96.655 by 03:40 GMT.

The USD/CNY pair gained 0.2% to 6.9979.

Robert Lighthizer, the U.S. Trade Representative, told the CBS news that the phase one trade deal between the U.S. and China was done.

In the deal, Trump vowed not to effect the new round of tariffs. In return, China said they would substantially increase agricultural purchases from the U.S., although they did not ay how much.

Trump said on Twitter that "phase two" trade talks would start immediately. But, Beijing made it clear that moving to the next stage of the trade negotiations would depend on implementing phase one first.

Lighthizer also said there is no timetable set for the next phase of talks.

Investors focus on the Fed

Investors will now pay attention to remarks from several Fed officials in the coming days. The Fed decided to hold rates steady last week.

Dallas Fed President Robert Kaplan, New York Fed President John Williams, and Eric Rosengren of the Boston Fed are all due to speak on Tuesday. 

The Chicago Fed President Charles Evans will speak a day later.

Fed Chairman Jerome Powell has said the bank's view of the economy remains favorable.

Economic data

Updates on U.S. industrial production, housing, consumer sentiment, personal income, and spending are all due this week.

Chinese industrial production and retail sales data beat estimates, suggesting the economy may be stabilizing.

The GBP/USD pair jumped 0.5% to 1.3386 after a landslide victory for British Prime Minister Boris Johnson's Conservative Party last week.

The EUR/USD pair inched up 0.1% to 1.1130.

Meanwhile, the AUD/USD pair and the NZD/USD pair both slipped 0.1%.