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Trade war

US and China reach currency truce after finding happy medium

Weaker yuan spelled trouble for Beijing as well

WASHINGTON/SHANGHAI -- The U.S. and China have eased currency tensions as they prepare to sign a "phase one" trade deal in Washington on Wednesday, with both sides eager to keep the yuan from weakening further.

Washington lifted its designation of China as a currency manipulator on Monday, having imposed it in August for the first time in 25 years as a move that opened the door for further sanctions.

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