The dollar extended a decline against major peers on comments from U.S. President Donald Trump, and most Asian stocks gained after U.S. equities flirted with record highs.

The greenback accelerated a slide after the euro broke through the key $1.15 level amid thin summer liquidity. It had weakened earlier after a report from Reuters that Trump said China and Europe manipulate their currencies as well as separate remarks lamenting the Federal Reserve’s interest-rate increases. Treasuries gave back some of Monday’s gains ahead of a meeting of central bankers later this week.

Equities drifted in Japan and the yen erased gains. Australia’s shares had the biggest decline in the region after the benchmark touched a 10 1/2 year high Monday. The Shanghai Composite Index continued Monday’s reboundwhen state-backed funds were seen buying stocks to stabilize the market. Earlier, the S&P 500 Index advanced for a third day to close within 15 points of a record. European futures traded lower.

Investors remain on tenterhooks as they await the outcome of talks between the world’s biggest economies on trade that have made their way back onto the agenda. Meanwhile, traders will be closely watching this week’s Jackson Hole symposium for clues on monetary policy, and to see whether central bankers can do anything to help bring back stability after the recent bout of emerging market-led volatility.

“Given the little progress made on the U.S.-China negotiations in the past six months, investors’ expectations are still low,” Tai Hui, JPMorgan Asset Management’s global market strategist, wrote in a note. “On-going negotiation is good news, and that’s what the market is riding on at this stage, but a sustainable agreement to end this tension still seems unlikely at this point.”

Elsewhere, the lira held onto declines over the past two days. Turkish markets are closed for most of this week, which may mean low trading volumes and sharper currency swings than usual. Emerging-market stocks and currencies rose.

Key events coming up this week:

• Companies announcing earnings include Alibaba, Royal Bank of Canada, Lowe’s, Target, Qantas, Ping An and China’s Bank of Communications.

• Central bankers gather at the Kansas City Fed’s annual Jackson Hole symposium, where Federal Reserve Chairman Jerome Powell speaks Friday.

• The Fed releases the minutes from latest FOMC meeting on Wednesday.

Main moves in markets:

Stocks

• Japan’s Topix index fell 0.4 percent at the 3 p.m. close in Tokyo.

• S&P/ASX 200 Index lost 0.9 percent.

• Hong Kong’s Hang Seng Index rose 0.4 percent.

• The Shanghai Composite Index gained 1.2 percent.

• Futures on the S&P 500 Index were flat. The benchmark climbed 0.2 percent.

• FTSE 100 Index futures fell 0.3 percent as of 7:01 a.m. in London.

Currencies

• The yen pared gains to trade at 110.07 per dollar.

• The offshore yuan was little changed at 6.8314 per dollar.

• The euro jumped 0.4 percent to $1.1528.

• The Bloomberg Dollar Spot Index fell 0.3 percent, on course for its fourth consecutive decline.

Bonds

• The yield on 10-year Treasuries rose one basis point to 2.83 percent.

• Australia’s 10-year bond yield added about two basis points to 2.54 percent.

Commodities

• West Texas Intermediate crude rose 0.5 percent to $66.74.

• Gold rose 0.4 percent to $1,195.61 an ounce after climbing 0.5 percent Monday.

Source: Bloomberg