Sunday, June 17, 2007

Yuan Rises to Highest Since End of Dollar Link; China May Allow More Gains

(Bloomberg) -- The yuan strengthened to its highest
since the end of a dollar link in July 2005 on speculation China
will allow appreciation to complement other monetary policies to
cool exports and investment.

Economic figures last week showed sales overseas,
investment, factory production and inflation accelerated in May,
raising the need for a stronger yuan to help ease expansion in
the world's fastest-growing major economy. The yuan had its
biggest weekly gain since the end of the link.


Read more at Bloomberg Currencies News

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