SINGAPORE, May 24 (MNI) - The U.S. dollar was slightly stronger in the Asian morning Monday in a "risk-off" trading environment, which saw the euro lose ground again, although the market experienced a calmer morning, compared with last week's hectic moves.

Dealers said a lack of any major euro-negative news over the weekend contributed to the relative calmness this morning, while attention was also on events in Beijing, where the U.S.-China Strategic & Economic Dialogue started today.

BEIJING (MNI) - China will push forward with reform of the yuan exchange rate mechanism, President Hu Jintao told the opening session of the Strategic and Economic Dialogue Monday.

"China will stick to the principles of our own initiative, controlability and gradualism to continue to reform the yuan exchange rate formation mechanism," he said.

He said that China and the U.S. should respect each other's core interests but noted that disputes are inevitable and should be "appropriately" handled.

BEIJING (MNI) - The U.S. and China should work towards building a world economy in which growth is more balanced domestically and globally, U.S. Treasury Secretary Timothy Geithner said Monday.

BEIJING (MNI) - World economic conditions remain complex, with the recovery at a key stage, Chinese Vice-Premier Wang Qishan said Monday.

He told the opening session of the U.S.-China Strategic and Economic Dialogue that the two days of talks are aimed at promoting strong and sustainable global economic growth.

Wang said that the talks are expected to encompass a broad range of issues, including cooperation on macro-economic policy-making, maintaining financial market stablity and reforming the international financial system.

"China and the U.S.

BEIJING (MNI) - The Chinese Minister of Commerce has signalled that the Chinese government has no intention of abandoning the stable yuan policy amidst Europe's ongoing fiscal debt crisis.

Chen Deming's comments were reported by the Xinhua News Agency late Friday and came on the eve of the second round of the U.S.-China Strategic and Economic Dialogue, which is set to be held in here on Monday and Tuesday.

By Vicki Schmelzer

NEW YORK, May 21 (MNI) - Global investors were urged to slowly get back in the risk appetite saddle again Friday, but most were too bruised and battered from the week's ride to pay much attention.

Many analysts viewed Thursday's purging of positions as the final capitulation, where instruments such as oil, 30-year Treasury yields, and the Aussie dollar fell far beyond fundamentals and realistic (on-the table-right-now) worst case scenarios for the eurozone peripherals

By Vicki Schmelzer

NEW YORK (MNI) - Speculative accounts trimmed their net euro short position, as well their net yen short position, as per May 18 according to data released Friday by the U.S. Commodity Futures Trading Commission.

The non-commercial futures-only (ex-options) section of the CFTC's Committment of Traders report showed that speculators decreased their net euro short position to -107,143 contracts.

By Dennis Pettit

NEW YORK, May 21 (MNI) - The dollar was nursing a mixed tone vs. the euro and the yen in afternoon dealings Friday as markets settled back into some sense of normalcy after back to back sessions of excessive volatility in both currencies and stocks.

Euro-dollar was changing hands at $1.2575 in afternoon dealings Friday, in the upper reaches of the day's $1.2480/1.2595 US hours range, the euro able to regain some poise in the Friday U.S. session after beginning the day near session lows and gradually climbing higher amid light flows.