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Trade war

World braces for dangerous US-China currency standoff

Yuan hovers beyond former line of defense after 'manipulator' designation

U.S. President Donald Trump listens to a question from the news media as he sits behind the Resolute Desk in the Oval Office of the White House. Trade tensions with China have now spilled over into currencies.   © Reuters

WASHINGTON/HONG KONG -- With the Trump administration designating China as a "currency manipulator" for the first time in a quarter century, tensions over trade and high tech between the U.S. and China have now extended to currencies.

Talk of the U.S., home to the world's key currency, intervening in the market to push down the dollar -- as at least one of U.S. President Donald Trump's advisers has reportedly raised -- shows just how unconventional the discussions are, as the world's two largest economies race to keep their currencies lower.

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