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Chinese yuan surged on expectation of China-US currency pact

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Chinese currency yuan strengthened sharply on the expectations that China and the United States are likely to reach a currency pact as part of a small-scale trade deal.

The Trump administration is weighing the inclusion of an agreement on exchange rates in a “mini” trade deal. If successfully implemented, the deal itself could lead to the eventual suspension of the US' tariffs on Chinese imports, including the one scheduled to be imposed next week, reported Bloomberg . . .

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