ICYMI: Bessent: Yuan weakness a bigger problem for Europe than the U.S. ...Middle East

He stressed that the yuan is stronger against the dollar this year, moving from 7.3 in January to 7.1, but has hit record lows above 8.4 against the euro, fuelling Chinese export gains in Europe and widening the EU’s trade deficit. Asked if this reflected manipulation, Bessent said Beijing manages the yuan as a “closed currency.”

This article was written by Eamonn Sheridan at investinglive.com.

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