US removes 'currency manipulator' label from China

Ahead of 'phase one' agreement

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Chinese equities were initially buoyed by the news
Image:

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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