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Asian Currencies Consolidate; Trade Deal Hopes May Support

0027 GMT — Asian currencies consolidate in the morning session, but may be supported by hopes for more trade deals. The Trump administration engaged in negotiations with China on Monday in Sweden, with additional discussions expected on Tuesday. The U.S. is expected to grant an extension to China regarding the Aug. 12 deadline of the trade truce between them, two members of CBA's Global Economic & Markets Research say in a research report. Confirmation of such an extension is likely to offer modest support to the Australian dollar versus the U.S. dollar, the members add. AUD/USD is little changed at 0.6518; USD/JPY is steady at 148.55. (ronnie.harui@wsj.com)
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