(Bloomberg) -- The yuan was little changed after
Vice Premier Wu Yi said the U.S. shouldn't blame its record
trade deficit on China, damping speculation policy makers will
seek faster currency appreciation.
A stronger yuan would help raise Chinese export prices,
narrowing the trade gap. The central bank last week said it
would allow wider exchange rate swings, strengthening Wu's
position in two days of talks with Treasury Secretary Henry
Paulson that started yesterday.
Read more at Bloomberg Currencies News
Vice Premier Wu Yi said the U.S. shouldn't blame its record
trade deficit on China, damping speculation policy makers will
seek faster currency appreciation.
A stronger yuan would help raise Chinese export prices,
narrowing the trade gap. The central bank last week said it
would allow wider exchange rate swings, strengthening Wu's
position in two days of talks with Treasury Secretary Henry
Paulson that started yesterday.
Read more at Bloomberg Currencies News
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