The U.S. dollar reached a two-week high against the yen as President Trump travels to Japan for trade talks and meetings with Chinese President Xi Jinping. The Federal Reserve is expected to cut interest rates this week after moderate inflation figures. Dollar strength is likely to continue in the near term, according to ANZ’s head of foreign exchange research. The euro and pound held steady, while the Australian and New Zealand dollars gained alongside regional shares. Cryptocurrencies like bitcoin and ether also saw gains. Trade talks have prevented the U.S. from imposing 100% tariffs on Chinese imports, and China may delay rare earth minerals policy. Trump and Xi are set to meet at the APEC summit in South Korea to finalize trade terms. The Fed is expected to cut rates with focus on Chair Powell’s comments for future rate cut signals.

Read more at Yahoo Finance: Dollar hits two-week high against yen as trade talks, Fed meeting loom