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SHANGHAI (Reuters) — China’s yuan recovered all intraday losses on Thursday to close near a 16-month high against the dollar, underpinned by rising market expectations that the U.S. Federal Reserve’s easing offered Beijing leeway on its own monetary policy.
The onshore yuan ended the domestic trading session at 7.0660 per dollar at 4:30 p.m. (0830 GMT), the strongest close since May 26, 2023.
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