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Chinese yuan strengthens to five-month high, breaking through 6.9/USD

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Chinese yuan strengthened to a five-month high, breaking through 6.9-per-USD ahead of the planned signing of the phase one trade deal between China and the United States.

The onshore yuan rallied 0.32 per cent to 6.8968 against the greenback on Monday, the strongest level since July 31. The offshore rate gained 0.27 per cent to 6.8963.

“The yuan’s rally since last week has reflected the improving . . .

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