China's yuan slips as investors await Trump-Xi talk details

China's yuan dipped against the dollar on Thursday, as rising near-term Federal Reserve rate hike expectations drove the greenback higher, while cautious investors awaited the outcome of the Trump-Xi summit in Washington.

The U.S. dollar rallied to its highest level in nearly two months overnight as investors' expectations of a near-term rate hike grew, pushing benchmark 10-year Treasury yields to their highest since 2007.

Rising U.S. yields and Fed tightening expectations have supported the dollar but heightened pressure on the yuan and other Asian currencies, analysts said.

The spot yuan CNY=CFXS was 0.09% lower at 6.7171 to the dollar as of 0224 GMT, after trading in a range of 6.7141 to 6.7195.