China not likely to relent over yuan

chinese yuan

One of the major stories in foreign exchange markets over recent weeks has been the heightened vitriol being directed by the US at China’s currency policy. Just last week, acting chairman of the House Ways and Means Committee Sander Levin accused China of "predatory exchange rate policies". Congress looks set to vote on a controversial piece of legislation that would enable the Commerce Department to impose duties on China’s imports as a response to its undervalued currency. Even the US

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