Five Things You Need to Know to Start Your Day
Photographer: Xaume Olleros/Bloomberg
China won't be labelled a currency manipulator by the U.S. Jack Ma's fortune jumps as Ant agrees to a drastic revamp. Bitcoin nears an all-time high. Here's what people in markets are talking about today.
China will not be named as a currency manipulator in Janet Yellen's first semiannual foreign-exchange report, according to people familiar with the matter. The report is due on Thursday. The move allows the U.S. — which was accused of politicizing the report in the Trump era — to sidestep a fresh clash with Beijing. The offshore yuan extended its intraday gain slightly, strengthening around 0.2% to around 6.5462 per dollar.