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Reuters carried the latest headlines reported in the Chinese media, citing that the Chinese Yuan is unlikely to weaken to beyond 7.0000 against the US dollar, despite the escalating US-Sino trade tensions.

This comes after the PBOC set its official Yuan midpoint to the lowest level in over a decade on Tuesday. The Yuan reference rate was fixed at 6.9574 per dollar, 197 pips, or 0.28 percent, weaker than the previous fix of 6.9377.