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China loosens currency grip as G20 summit looms

China's surprise move to relax currency controls ahead of this weekend's G20 summit buoyed global markets and sent the yuan to a five-year peak on Monday, but caution returned as analysts questioned how farBeijing's new currency flexibility would go.  Stock markets surged after China loosened the yuan's 23-month-old peg to the U.S. dollar, easing a policy aimed at steadying its economy during the global downturn and paving the way for the currency to appreciate….