The offshore yuan weakened to around 6.70 per dollar on Wednesday, extending losses from the previous session as a stronger US dollar and caution before the highly anticipated Trump-Xi summit weighed on sentiment. Hawkish remarks from Federal Reserve officials reinforced expectations of another interest-rate hike later this year, supporting the greenback. The yuan also faced pressure after preliminary talks on Sunday failed to reach an agreement extending the tariff truce due to expire in November. Although expectations for a major breakthrough are limited, the summit is expected to cover artificial intelligence, Iran, Taiwan and bilateral trade relations. Chinese President Xi Jinping and First Lady Peng Liyuan are scheduled to be welcomed by President Trump on Wednesday evening, marking Xi’s first visit to the United States since 2015.