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Wall Street faces more tumult if China labelled forex manipulator


  • Economy
  • Thursday, 11 Oct 2018

The yuan has tumbled more than 9 percent against the dollar over the past six months, raising speculation that China has been deliberately weakening the currency.

The yuan has tumbled more than 9 percent against the dollar over the past six months, raising speculation that China has been deliberately weakening the currency.

NEW YORK: Wall Street is bracing for the prospect that the US uses this month’s semiannual foreign-exchange report to label China a currency manipulator, escalating the trade standoff between the two nations at a time when rising bond yields are already denting riskier assets.

The scenario is viewed as possible -- though not probable -- given the yuan has tumbled more than 9 percent against the dollar over the past six months, raising speculation that China has been deliberately weakening the currency. 

Economy , Forex

   

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