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China signals aim to loosen yuan's peg to dollar and use currency basket instead
By Lingling Wei
The Wall Street Journal
Friday, December 11, 2015
BEIJING, China -- China's central bank signaled its intention to change the way it manages the yuan's value by potentially loosening its peg to the U.S. dollar and instead letting it track the currencies of its broader trading partners.
In an editorial posted on its website Friday night, the People's Bank of China said it makes more sense to measure the yuan's exchange rate against a basket of currencies rather than the dollar alone. ...
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