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US treasury removes currency manipulator label on China

Jan 14, 2020 16:13 IST

The United States has removed the currency manipulator label it imposed on China last summer, in a sign of easing tensions between the two economic powers after nearly two years of conflict. Just two days before President Donald Trump is set to sign a 'phase one' trade agreement with China, the US Treasury said in its semi-annual report to Congress that the Yuan, also known as Renminbi, has strengthened and Beijing is no longer considered a currency manipulator.

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