The dollar struggled to make headway on Tuesday as an unprecedented two-day surge in its Taiwanese counterpart spilled over to other regional peers and highlighted the fragility of the U.S. currency.
The past two-day sharp moves in the Taiwan dollar subsided during the session, but Hong Kong's de-facto central bank intervened to stop the local currency from strengthening and China's yuan jumped in its return from an extended break.
Investors were also awaiting actual progress in trade negotiations with the United States and evidence of a thaw in Sino-U.S. relations, as opposed to just hints from officials.
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