(Bloomberg) -- The yuan closed near its highest
since the end of a dollar link in July 2005 on speculation China
will allow appreciation to cool exports and investment.
Premier Wen Jiabao last week signaled more interest-rate
increases are needed to cool the economy after reports showed
exports and factory production surged in May and inflation
exceeded the government's 2007 target. The yuan had the biggest
weekly gain since the end of the peg.
Read more at Bloomberg Currencies News
since the end of a dollar link in July 2005 on speculation China
will allow appreciation to cool exports and investment.
Premier Wen Jiabao last week signaled more interest-rate
increases are needed to cool the economy after reports showed
exports and factory production surged in May and inflation
exceeded the government's 2007 target. The yuan had the biggest
weekly gain since the end of the peg.
Read more at Bloomberg Currencies News
No comments:
Post a Comment