U.S. plans to lift China's designation as currency manipulator: reports

posted by editor on 2020-01-13 20:35:53 in Forex, Forex Market, Chinese Yuan | 0 comments

The Trump administration plans to lift its designation of China as a currency manipulator, news reports said Monday, ahead of the expected Wednesday signing of the so-called phase one U.S.-China trade deal. The Treasury Department plans to lift the designation, which it made last August, in a semi-annual report expected to be released ahead of the Wednesday signing, a Fox Business Network correspondent tweeted. The Chinese yuan extended gains versus the U.S. dollar in offshore trade USDCNY, -0.3757%. The dollar bought 6.883 yuan in offshore dealings, according to FactSet, a gain of 0.5%. Earlier, the yuan had traded below 6.9 yuan in onshore USDCNY, -0.3757% trading for the first time since August.

Source: www.marketwatch.com

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