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Wall Street Journal: World markets

  • A former Goldman Sachs banker is talking with U.S. prosecutors about potentially pleading guilty to charges stemming from alleged fraud at a Malaysian state investment fund, people familiar with the matter say.

  • Central banks in some emerging market economies have started to spend down a $6 trillion stash of foreign reserves to contain currency declines.

  • The Chinese currency surged against the dollar on Wednesday, continuing a recovery that began the previous afternoon after China’s central bank chief pledged to keep the exchange rate “basically stable.”

The Economist: Finance & Economics

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