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China Further Devalues Yuan Currency

China has allowed the value of its yuan currency to drop for a second consecutive day, doubling down on a surprise move that rattled global markets and could raise tensions with its trade competitors. The yuan's market rate fell 1.6 percent Wednesday after falling nearly 2 percent a day earlier, which was its biggest single-day drop in a decade. China's central bank, which strictly controls the currency, described the move as temporary and meant to make the value of the yuan...

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