Commodity Online
BEIJING: The United States on Thursday expressed hopes that Chinese authorities will keep with currency reforms and let the Yuan appreciate.
U.S. officials told reporters here after an opening round of talks with Chinese counterparts that they believe Beijing remains committed to letting the Yuan appreciate.
The Yuan rose 20 percent against the dollar in the three years after it was revalued in July 2005 and set free to float in tightly managed bands.
But the currency's ascent halted in mid-July and the central bank startled traders this week by allowing the Yuan to depreciate modestly against the U.S. currency.
The United States has been pushing Beijing to let the Yuan rise further against the dollar in the hope that will shrink China's trade surpluses and reduce global economic imbalances.
