Advanced U.S. wholesale inventories up 0.5% in May

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China’s central bank steps in as yuan tumbles

China’s central bank appeared to intervene to stem the yuan’s decline on Wednesday, traders said, after it had earlier set the currency at a six-month low against the U.S. dollar. The yuan plunged as much as 0.9% against the dollar in mainland China during the Asian morning, with one dollar buying 6.6159 yuan.

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