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LONDON (Reuters) - The dollar edged higher on Monday as new COVID-19 restrictions in Asia and mixed economic data in China encouraged investors to stick with safer currencies.
FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany./File Photo
The euro fell marginally while other major currencies remained in tight ranges in a quiet start to the week.
Bitcoin skidded to a three-month low after Tesla Inc boss Elon Musk suggested at the weekend that the car maker is considering selling or may have already sold some of its holdings in the cryptocurrency. It later recovered slightly.
Joint European Union – United States statement on addressing global steel and aluminum excess capacity
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European Commission Executive Vice President Valdis Dombrovskis, United States Trade Representative Katherine Tai and U.S. Secretary of Commerce Gina M. Raimondo today announced the start of discussions to address global steel and aluminum excess capacity. During a virtual meeting last week, the leaders acknowledged the need for effective solutions that preserve our critical industries, and agreed to chart a path that ends the WTO disputes following the U.S. application of tariffs on imports from the EU under section 232.
By Reuters Staff
(Updates prices)
LONDON, May 17 (Reuters) - Copper rose back towards last week’s record high on Monday as the threat of strikes at mines in Chile and a belief among investors that prices will rally further offset weak factory data from top metals consumer China.
Benchmark copper on the London Metal Exchange (LME) was up 1.2% at $10,359 a tonne at 1615 GMT, close to last Monday’s all-time peak of $10,747.50.
Copper, used in power and construction, is up more than 30% this year and many analysts expect more gains as the world shifts from fossil fuels to copper-intensive electrification, and demand outpaces supply.
After 2 years of US ban, Huawei further speeds up self-rescue
Zhang Dan and Yang Kunyi Published: May 17, 2021 08:32 PM
A view of a Huawei store in Central China s Henan Province in November 2020 Photo: cnsphoto
Chinese tech giant Huawei is further stepping up what analysts call self-rescue efforts, as it unveiled a batch of new innovation plans to build its independent ecosystems on Monday, which marks the second anniversary of the US blacklisting - in what appears to be a show of resilience and defiance amid the lingering political crackdown.
At its ecosystem conference 2021 in Shenzhen, Huawei Rotating Chairman Eric Xu Zhijun said that the company will emphasize the upgrading of six self-developed digital technology ecosystems - Kunpeng, Ascend, HMS, HarmonyOS, Huawei Cloud and MDC (Mobile Data Center).