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BEIJING (AP) - China took steps Friday to let its currency rise faster against the dollar after years of U.S. pressure and ahead of what are expected to contentious talks in Washington over Beijing's soaring trade surpluses.
The Chinese central bank said that as of Saturday, the band in which the yuan is allowed to fluctuate against the dollar each day will be widened from 0.3 percent to 0.5 percent above or below the previous day's closing value.
But the bank cautioned that the change will not lead to "large appreciations" in the yuan's value.
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