U.S. Treasury Undersecretary for International Affairs John Taylor spoke today on global trade imblances, although no information on how quickly the Yuan will be revalued was forthcoming.

Policy-makers around the world are taking steps that should cut any risk stemming from global trade imbalances, a senior U.S. Treasury official said on Friday.

"I think there’s a policy in place that is dealing with this," U.S. Treasury Undersecretary for International Affairs John Taylor told a conference sponsored by the Stanford Institute for Economic Policy Research.

…Taylor said he could not offer timetable on how quickly China, which pegs its yuan currency at about 8.28 to the dollar, might move toward a more flexible exchange rate, but that needed steps were begin taken.

Read more: Policy aiming for better global balance-US’ Taylor