Yi Gang, China's central bank governor, said on Sunday that China and the United States are close to securing a currency deal as part of the two nations' broader trade negotiations, which are inching toward a resolution.
As part of the agreement, Yi confirmed that China would not manipulate its currency. China's management of its currency has remained a sticking point between Washington and Beijing for years. President Trump has accused Beijing of purposefully devaluing the yuan in order to keep goods cheap and gain a competitive advantage on the international trade market. China has made the same commitment in other multilateral agreements, as well, The Wall Street Journal reports.
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