(Bloomberg) -- The yuan had its biggest weekly
advance since the end of a dollar link in 2005 on speculation
pressure from the U.S. for quicker currency gains will increase
as the trade gap between the two nations widens.
China's trade surplus grew to a record in June, driving
foreign-exchange reserves to an all-time high, boosting excess
cash in the financial system and making it more difficult for
the government to cool economic growth. The U.S. trade deficit
with China widened in May, the Commerce Department said
yesterday.
Read more at Bloomberg Currencies News
advance since the end of a dollar link in 2005 on speculation
pressure from the U.S. for quicker currency gains will increase
as the trade gap between the two nations widens.
China's trade surplus grew to a record in June, driving
foreign-exchange reserves to an all-time high, boosting excess
cash in the financial system and making it more difficult for
the government to cool economic growth. The U.S. trade deficit
with China widened in May, the Commerce Department said
yesterday.
Read more at Bloomberg Currencies News
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