• Bloomberg, Reuters

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Washington’s abrupt declaration Monday that China is no longer a currency cheat — two days before the signing of a trade deal with Beijing — shows how U.S. President Donald Trump has turned a routine technical report on foreign exchange into a political cudgel.

“It’s absolutely being used as a bargaining tool,” said John Doyle, a foreign currency strategist at Tempus Inc. in Washington. “We will look at that report now and wonder: Who are they going to flip on next if its politically convenient to get a deal done?”

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