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Yuan's surge knocks greenback
Published Thu, Jan 5, 2017 · 09:50 PM
London
SOME of the biggest gains on record for China's yuan sent currency markets spinning on Thursday, driving the US dollar broadly lower and threatening to quash one of the central bets of global investors for 2017.
A rise in overnight borrowing costs in Hong Kong to 96 per cent helped the yuan rack up the biggest two-day rise for the offshore version of its currency since its launch in 2010.
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