China's yuan slipped against the dollar while falling to a near two-year low versus its major trading partners on Friday, as U.S. President Donald Trump and Chinese leader Xi Jinping held a much-anticipated call but left key issues that have stoked tensions between the world's two largest economies unresolved.

President Donald Trump and Chinese President Xi Jinping discussed trade negotiations between Washington and Beijing Thursday over the phone.

Mr. Trump said in a post on Truth Social that his call with Xi Jinping, China’s top leader, had focused entirely on the trade relationship between the nations, which has soured in recent months in a dispute over the export of critical minerals used in an array of industries.