The pivotal roles China and the U.S. must play to get a breakthrough at the G-20 was underscored by an 80-minute meeting between Presidents Barack Obama and Hu Jintao yesterday dominated by a discussion about exchange rates.
U.S. Treasury Secretary Timothy F. Geithner has said that the yuan remains undervalued and that China needs to show a continued commitment to allow its currency to rise further over time. China has argued that a quick increase in the yuan’s value would cause economic and social disruption.
The People’s Bank of China set the reference rate for yuan trading at 6.6239 per dollar today, the strongest since a peg ended in July 2005. The yuan has risen about 3 percent against the U.S. currency since June 19, when China said it was allowing a resumption of appreciation that was frozen in 2008.
http://www.bloomberg.com/news/2010-1...mbalances.html
very very interesting week next week...at least i can take a breath on this even hard to me to believe on it....buy dip UJ..~ 81.50/60 unless 81 broken again..then fuck up things may happen where i will run away from playing UJn close off this pair till next year
U.S. Treasury Secretary Timothy F. Geithner has said that the yuan remains undervalued and that China needs to show a continued commitment to allow its currency to rise further over time. China has argued that a quick increase in the yuan’s value would cause economic and social disruption.
The People’s Bank of China set the reference rate for yuan trading at 6.6239 per dollar today, the strongest since a peg ended in July 2005. The yuan has risen about 3 percent against the U.S. currency since June 19, when China said it was allowing a resumption of appreciation that was frozen in 2008.
http://www.bloomberg.com/news/2010-1...mbalances.html
very very interesting week next week...at least i can take a breath on this even hard to me to believe on it....buy dip UJ..~ 81.50/60 unless 81 broken again..then fuck up things may happen where i will run away from playing UJn close off this pair till next year
