(Bloomberg) -- The yuan was poised for a winning
month as Treasury Secretary Henry Paulson told state-owned
Xinhua News Agency that the exchange-rate issue is China's
decision.
Easing pressure on China to accelerate the yuan's
appreciation may give the Asian nation room to allow it to
strengthen without appearing to bow to global demands. The U.S.
Senate Finance Committee on July 26 approved legislation that
would slap higher duties on Chinese imports to compensate for
what lawmakers say is an undervalued currency.
Read more at Bloomberg Currencies News
month as Treasury Secretary Henry Paulson told state-owned
Xinhua News Agency that the exchange-rate issue is China's
decision.
Easing pressure on China to accelerate the yuan's
appreciation may give the Asian nation room to allow it to
strengthen without appearing to bow to global demands. The U.S.
Senate Finance Committee on July 26 approved legislation that
would slap higher duties on Chinese imports to compensate for
what lawmakers say is an undervalued currency.
Read more at Bloomberg Currencies News
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