US removes 'currency manipulator' label from China

Ahead of 'phase one' agreement

Chinese equities were initially buoyed by the news

Chinese equities were initially buoyed by the news

The US Treasury has said China should "no longer be designated a currency manipulator at this time" as the two countries prepare to sign a 'phase one' trade deal this week.

China was labelled a currency manipulator in August last year, when US President Donald Trump said the country had allowed the Chinese renminbi (RMB) to devalue. In a report published yesterday (13...

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