(Bloomberg) -- The yuan climbed to the highest
since a dollar peg was scrapped in 2005 as traders speculated
China will allow gains to help ease the record trade surplus.
Bonds were little changed.
China said yesterday it will reduce export rebates on 2,831
products to help ease friction with other countries that has
caused some U.S. lawmakers to accuse the nation of artificially
keeping its currency low. The yuan should be allowed to move
more to help the government's foreign-currency manager operate,
said Li Yang, a former adviser to the central bank.
Read more at Bloomberg Currencies News
since a dollar peg was scrapped in 2005 as traders speculated
China will allow gains to help ease the record trade surplus.
Bonds were little changed.
China said yesterday it will reduce export rebates on 2,831
products to help ease friction with other countries that has
caused some U.S. lawmakers to accuse the nation of artificially
keeping its currency low. The yuan should be allowed to move
more to help the government's foreign-currency manager operate,
said Li Yang, a former adviser to the central bank.
Read more at Bloomberg Currencies News
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