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Lawmakers have for years accused Beijing of manipulating its currency, giving an unfair advantage to its exporters, and the Obama administration has consistently called the yuan “significantly undervalued”.

The political backlash on currency is concentrated in states reliant on automobile manufacturing, steel production and other heavy industry.

Work on the joint statement continued on Thursday, despite the fact that it was supposed to have been finished on Wednesday.

The yuan had strengthened along with the dollar, hurting exporters and raising the risk of politically risky job losses in manufacturing industries that employ tens of millions of workers. Holders of yuan can preserve value by purchasing bitcoin and then cashing out to yuan,...

Now, China has done a U-turn.

The yuan suffered its biggest one-day decline in more than two decades on Tuesday, hitting a three-year low after the Chinese central bank surprised markets by devaluing it by nearly 2 percent, firing a broadside in what some analysts saw as a looming currency war. This de facto...

China’s unexpected sharp currency devaluation has shaken the foreign-exchange market, boosting the US dollar and stirring concerns about a delay in the Federal Reserve’s plan to raise interest rates.

Some economists said the devaluation was also designed to support Beijing’s push for the yuan to be included in a basket of reserve currencies known as Special Drawing Rights (SDR), which are used by the worldwide Monetary Fund to lend money to sovereign borrowers. So...

It’s the largest devaluation of the renminbi since 1994, when the current system was put into place.

Beijing allowed the yuan to drop to its three years low and the U. The People’s Bank of China said market forces would be given a bigger role in setting the exchange rate, leaving open the possibility of more declines.

“The market is spooked by concern that the yuan may enter a devaluation trend and there’s some pressure for capital outflows given the fact that the U.S. may raise interest rates soon”, said Wei Wei, an analyst at Huaxi Securities Co.in Shanghai.

For comparison’s sake, just over a year ago, Apple said it had paid $20 billion to developers. If you have an interest in a particular topic, you’re likely be able to find shows dedicated to it. Podcasts don’t come pre-installed in iOS, so you’ll want to...

During the past decade, Apple’s iOS-powered devices such as the iPhone and iPad have become mainstays as workforce tools. Aside from better notifications, users expected a quick reply to these, where users can respond to messages or email without the need to leave their...

Sustained weakness in the yuan raises the risk of tensions with China’s trading partners.

The Islamist fanatics who rule Iran might actually welcome a nuclear exchange with Israel. And the alternative of not reaching an agreement, you know what it is?