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China's yuan hovers near 4-year high ahead of Fed decision
HONG KONG: China’s yuan was little changed against the US dollar on Wednesday as traders awaited the Federal Reserve’s policy decision for clues on the near-term interest rate outlook. Markets broadly expect no change in US central bank policy this week, but believe a rate-hike pause will not last for long given inflation remains stubbornly high. The yuan was 0.01% lower at 6.6675 to the dollar as of 0322 GMT, after trading in a range of 6.6667 to 6.6701. It hovered just below the four-year high of 6.6660 hit in the previous session. “With little (Fed) policy surprise anticipated, markets will...
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