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China’s Stronger Currency Could Be a Fig Leaf for Biden


HONG KONG — China’s economy has come roaring back from the depths of the coronavirus pandemic, and its currency has joined the ride.The currency, known variously as the yuan or the renminbi, has surged in strength in recent months against the American dollar and other major currencies. Through Monday, the U.S. dollar was worth 6.47 renminbi, compared with 7.16 renminbi in late May and close to its strongest level in two and half years.Many currencies tend to jump around in value even more, but Beijing has long kept a leash on China’s, so the renminbi’s leap looks …

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