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Trade war

Beijing pushes envelope with 7-yuan-to-dollar reference rate

Market holds breath as China's central bank tests room to cushion tariff blow

HONG KONG -- China's central bank set its daily yuan reference rate at 7.0039 to the dollar Thursday, crossing the 7 line for the first time in roughly 11 years and signaling resolve even as the U.S. cries foul over the weakening currency.

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