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China's central bank set the yuan's mid-point of reference at 6.9996, stronger than the dollar on Wednesday (August 7th), two days after Washington called Beijing a currency manipulator.
The yuan has fallen in recent months, especially as a result of the intensification of the trade war between China and China. The US president unexpectedly announced new tariffs on Beijing, which will come into effect on September 1st.
The People's Bank of China will raise the yuan to 6.9994 against the dollar on Wednesday, while the central bank set the yuan at 6.9683, the lowest since May 20, 2008.
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