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Yuan devaluation raises currency war anxiety

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The anxiety level about a fresh round of worldwide currency skirmishes just went up by a notch. The trigger this time is a surprise, near 2 per cent devaluation of the Chinese yuan against the US dollar.

Singapore

THE anxiety level about a fresh round of worldwide currency skirmishes just went up by a notch. The trigger this time is a surprise, near 2 per cent devaluation of the Chinese yuan against the US dollar. The People's Bank of China (PBOC) downplayed the move as a "one-time