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Yen gains, yuan weakens on report tariffs on China to stay through U.S. election
China’s yuan weakened on Tuesday and the Japanese yen reversed earlier losses after a report that the United States will keep tariffs on Chinese goods through the U.S. election hurt risk sentiment. The news came a day before the signing of a preliminary U.S.-China trade agreement to ease an 18-month-old trade war. Bloomberg News reported that the United States will review and remove existing tariffs no sooner than 10 months after the deal is signed. The U.S. Treasury Department on Monday reversed its designation of China as a currency manipulator in what has been seen as a conciliatory gesture ahead of the deal ... (full story)