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Yuan hits 4-year high as strong GDP data tempers need for stimulus
SHANGHAI: China’s yuan strengthened against the US dollar on Monday to its firmest in more than four years, buoyed by better-than-expected third-quarter economic growth that eased pressure on policymakers to roll out more aggressive stimulus. The economy expanded 4.5% year-on-year in the third quarter, topping forecasts and reducing the urgency for Beijing to step up support to meet its annual growth target. Retail sales for September also accelerated. “The September data do suggest that the economy regained momentum at the end of the third quarter and we expect a further acceleration over th...
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