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China Lets Yuan Rise Steadily, Pressuring Exporters
02/25/2021 | 10:16am EDT
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By Stella Yifan Xie HONG KONG China s currency has continued to climb in value this year on the back of a strong economic recovery, and Beijing doesn t appear to be in a hurry to weaken it despite the pressure it is putting on exporters. The yuan has risen more than 9% against the U.S. dollar since June on the back of an export boom and massive investment flows. The greenback has weakened against the backdrop of a feeble U.S. economy and low interest rates, and as investors have moved money into riskier assets around the world.