(Bloomberg) -- China's yuan fell from the strongest
since a dollar link was scrapped almost two years ago after
central bank Deputy Governor Wu Xiaoling said China will seek to
keep the yuan stable.
The currency was set lower for the first time in eight days
as China rebuffed pressure form U.S. politicians and the
International Monetary Fund to quicken gains in the yuan to help
solve global trade imbalances. U.S. Treasury Secretary Henry
Paulson said yesterday he will look for ways to be ``more
creative'' in pressing China to increase yuan flexibility.
Read more at Bloomberg Currencies News
since a dollar link was scrapped almost two years ago after
central bank Deputy Governor Wu Xiaoling said China will seek to
keep the yuan stable.
The currency was set lower for the first time in eight days
as China rebuffed pressure form U.S. politicians and the
International Monetary Fund to quicken gains in the yuan to help
solve global trade imbalances. U.S. Treasury Secretary Henry
Paulson said yesterday he will look for ways to be ``more
creative'' in pressing China to increase yuan flexibility.
Read more at Bloomberg Currencies News
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