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China steps in to defend the yuan, as US tensions and Hong Kong uncertainty send currency tumbling

Summary:
[unable to retrieve full-text content]The Chinese central bank moved again on Friday to support the yuan after it fell this week to its lowest level against the US dollar in eight months, amid rising tensions with the US and growing uncertainty over Hong Kong’s future.The People’s Bank of China (PBOC) set the yuan’s daily central parity rate stronger than its previous closing price in the onshore spot market for the ninth consecutive trading day, in a sign the central bank is pushing back against rising volatility.The downward…

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[unable to retrieve full-text content]
The Chinese central bank moved again on Friday to support the yuan after it fell this week to its lowest level against the US dollar in eight months, amid rising tensions with the US and growing uncertainty over Hong Kong’s future.The People’s Bank of China (PBOC) set the yuan’s daily central parity rate stronger than its previous closing price in the onshore spot market for the ninth consecutive trading day, in a sign the central bank is pushing back against rising volatility.The downward…

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