Japan’s Prime Minister, Naoto Kan, won a party leadership vote on Tuesday to secure his position as the country’s premier, defeating challenger Ichiro Ozawa and fueling further gains in the yen.
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The Chinese yuan hit a post-revaluation high against the dollar Monday after the People’s Bank of China set the yuan’s reference rate for trading at its highest level since the central bank began publishing the daily fix in 199…
The Chinese yuan hit a post-revaluation high against the dollar Monday after the People’s Bank of China set the yuan’s reference rate for trading at its highest level since the central bank began publishing the daily fix in 199…
The Bank of England kept it benchmark rate at a record low 0.5% and maintained its bond purchase program at £200 billion ($309 billion).
The bank, which sets monetary policy for the United Kingdom, has kept rates low to stimulate the recovery i…
Treasury Secretary Timothy Geithner said that China should let its yuan currency appreciate faster to demonstrate that the country is willing to follow through on promises.
“Frankly they haven’t let the currency move very much so far,” Geithner told Bloomberg News. “They know they’re just at the beginning of that process and I think we’d like to see them move more quickly.”
The yuan…
Continue reading Geithner: China Should Let Yuan Appreciate Faster
Geithner: China Should Let Yuan Appreciate Faster originally appeared on DailyFinance on Thu, 09 Sep 2010 06:51:00.