FOREX-Currencies off to cautious start, China-U.S. trade deal in focus

Major currencies were off to a cautious start on Monday as market players looked to whether Washington and Beijing can soon sign off on a deal to end their trade war that has been a drag on the global economic growth.Against the yen, the dollar was traded at 108.75 yen, recovering from 108.235 touched on Thursday as rising hopes of a U.S.-China trade deal undercut the yen.The currency faces a resistance around 109.00, where it has its 200-day moving average.