China's devaluation raises currency war fear as Greece strikes deal

August 11, 2015 1:15 PM

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China's shock 2 percent devaluation of the yuan on Tuesday pushed the dollar higher and raised the prospect of a new round of currency wars, just as Greece reached a new deal to contain its debt crisis.

Stocks fell in Asia and Europe as investors worried about the implications of a move designed to support China's slowing economy and exports.

Also read: Japan's February exports, imports grow amid trade war fears

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