China seen to be complying with US trade war deal by allowing…

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China’s central bank has stood back from intervention so far this year and let market forces push up the yuan’s exchange rate ahead of the anticipated signing of the phase one trade agreement with the United States next week that is expected to include a clause prohibiting currency manipulation.

The yuan started the year with a 0.26 per cent gain against the US dollar, becoming the second best performer among Asia’s 11 most traded currencies, according to Bloomberg data.

On Wednesday, the…

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