(Bloomberg) -- The yuan had the biggest weekly gain in almost three months on speculation China will use currency gains to prevent its trade surplus from widening and driving up record foreign-exchange reserves.
The central bank may also allow yuan appreciation before a meeting between Chinese Vice Premier Wu Yi and U.S. Treasury Secretary Henry Paulson to deflect criticism on the exchange rate, said Chris Leung, senior economist at DBS Bank Hong Kong Ltd. China's trade surplus more than doubled in April from the previous month, according to a Xinhua News Agency report, citing data from the nation's customs bureau.
Read more at Bloomberg Currencies News
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