China's yuan ends at fresh high against dollar ahead of G20 |
MarketWatch - Jun 25, 2010 |
China's currency strengthened to a new high against the U.S. dollar Friday, signaling Beijing's new attitude toward its appreciation and potentially avoiding a showdown over exchange rates at this weekend's Group of 20 summit.
The gains follow last weekend's move by Beijing to allow the yuan exchange rate to trade more freely -- though it remains unclear that Chinese authorities are prepared for a large appreciation in the currency.
Analysts say the rise in the yuan will provide Chinese President Hu Jintao with leverage during talks that are expected to focus on financial regulations and other topics -- including exchange rates.
But it may be too little to appease critics who say the yuan is undervalued.
Read Full Article from MarketWatch
- Posted: 2010-06-25 08:57:25
More Stock Investor Place Top Stories |
|
|
|
Stock Investor Place Top Stories Archive |
|
|