(Bloomberg) -- The yuan gained the most in more than
a week as China's Vice Premier Wu Yi meets U.S. Treasury
Secretary Henry Paulson in Washington today.
China's currency rose to the highest since the end of a
dollar link in July 2005, climbing past 7.66 for the first time.
The central bank last week allowed wider swings in the yuan to
increase flexibility in the exchange rate, which the U.S. has
said would help narrow the trade gap between the two nations.
Some U.S. lawmakers have threatened retaliatory trade actions in
the absence of quicker yuan appreciation.
Read more at Bloomberg Emerging Markets News
a week as China's Vice Premier Wu Yi meets U.S. Treasury
Secretary Henry Paulson in Washington today.
China's currency rose to the highest since the end of a
dollar link in July 2005, climbing past 7.66 for the first time.
The central bank last week allowed wider swings in the yuan to
increase flexibility in the exchange rate, which the U.S. has
said would help narrow the trade gap between the two nations.
Some U.S. lawmakers have threatened retaliatory trade actions in
the absence of quicker yuan appreciation.
Read more at Bloomberg Emerging Markets News
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