USD Steady as Xi-Trump Summit Reaffirms Stable US-China Ties

The US dollar held relatively steady following the Xi-Trump summit in Beijing, where Chinese President Xi Jinping emphasized mutual respect as the cornerstone of stable bilateral relations. The meeting, largely characterized as an exchange of pleasantries, produced no significant policy surprises, with Treasury Secretary Bessent's earlier briefing covering the key outcomes. The diplomatic engagement appears aimed at reaffirming stable ties between the world's two largest economies amid broader economic turbulence driven by the ongoing Middle East conflict. For forex markets, the lack of contentious trade rhetoric or new tariff threats removes a near-term source of USD volatility. The dollar index remains range-bound as traders digest the geopolitical implications. With no fresh trade escalation signals, risk sentiment may find modest support, potentially capping USD safe-haven demand in the short term. Traders should monitor any post-summit policy announcements or trade deal developments that could shift the current equilibrium. Near-term USD direction will likely depend on upcoming US economic data rather than diplomatic headlines.