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Take Five: From yuan to U.S. stores, it's all about trade
The Sino-U.S. trade war is getting more acrimonious. After China responded to U.S. tariff increases with additional levies of its own, Washington blacklisted telecoms giant Huawei, prompting Chinese state social media to ramp up the war of words. All that’s taken the yuan past 6.9 per dollar, despite authorities’ efforts to snuff out speculation by adjusting daily exchange rate fixings and draining cash from markets. But markets seem bent on testing the central bank’s resolve not to let the yuan fall too fast and breach the 7-per-dollar level. Given some evidence Beijing has been selling U.S. Treasury bonds in ... (full story)