The yuan’s trading band will be widened “in the near future,” said Yi Gang, deputy governor of the People’s Bank of China, after the currency rallied yesterday to a 19-year high. “The exchange rate is going to be more market-oriented,” Yi said at an International Monetary Fund conference in Washington yesterday. “Last year they increased the floating band from 0.5 percent to 1 percent. I think in the near future they’re going to increase the floating band even further.” China may come under pressure to quicken appreciation of the yuan from members of the Group of 20 nations and the International Monetary Fund meeting ... (full story)