Forex Blog: Currency Trading News & Analysis.

April 26th 2006

G7 calls for Yuan flexibility

The G7 Industrialized nations recently called on China to afford the Yuan increased flexibility. Many pundits likened the comments to similar exhortations made several years ago (regarding increased Euro flexibility). After that announcement, the USD declined over 10% against most major currencies within one year’s time. Will a similar fate befall the USD this time around? It seems likely, as the G7’s comments may ultimately pave the way for equally serious words of encouragement by America’s Treasury Department, in its semiannual currency report. AME Info reports:

For the very first time ever, China has been mentioned directly by the G7, reflecting their increased concern over the past few months.

Read More: Dollar Slides as Pressure Increases on China to Revalue- Will it Matter?

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