US designates China currency manipulator amid trade war

UPDATED ON FEB 26, 2020 01:25 AM IST
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The United States formally labeled China a currency manipulator amid the ongoing trade war. China's currency broke $7 mark on Monday, first time since 2008. There is speculation that Beijing is letting the currency depreciate to counter US tariff threat. Analysts say that US' move to the branding of currency manipulator is largely symbolic but underscores deteriorating US-China relations.

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