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China's yuan surges vs. the dollar following Trump reversal

Published 04/13/2017, 04:43 AM
© Reuters.  China's yuan surges vs. the dollar following Trump reversal
  • The yuan climbs to its biggest one-day advance vs. the dollar in nearly three months after Pres. Trump abandoned his earlier pledge to name China a currency manipulator and said the dollar was too strong.
  • China equities are higher, also enjoying a boost from news that stronger than expected growth in exports had returned the country's trade balance to surplus in March.
  • But Japan’s Nikkei average lost as much as 1.3% to its lowest level since December, as the yen hit five-month highs against the dollar.
  • European bourses also are lower in the early going as the euro strengthens vs. the dollar.
  • ETFs: FXI, DXJ, EWJ, YINN, FXP, YANG, PGJ, GXC, MCHI, CHN, DBJP, TDF, XPP, YXI, YAO, CN, FCA, JPNL, EZJ, JEQ, EWV, GCH, HEWJ, CXSE, JPXN


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