Directions (next five questions) : Rearrange the following six sentences (A), (B), (C), (D), (E) and (F) in the proper sequence so as to form a meaningful paragraph, then answer the given questions.
- Initiatives by Japan and the European Union over the past two years depressed the Yen and Euro earlier.
- The rising dollar has hurt US exporters by making their goods costlier abroad, and China's move to devalue its currency could further complicate the Fed's decision on when to raise rates.
- All these move contrast with action foreseen form the Federal Reserve, which is widely expected to boost the short-term interest rate it controls later this year.
- China's central bank said the devaluation of the Yuan was a result of reforms intended to make its exchange rate more market-oriented.
- This Fed rate hike would likely raise the value of the dollar, which has already jumped about 1.4 percent in value in the past 12 months against a basket of foreign currencies.
- With this devaluation, China becomes the third major economy to act on lowering its currency value.