- Prison Planet.com - http://www.prisonplanet.com -
China’s yuan hits record high amid US pressure
Posted By admin On October 13, 2012 @ 3:22 am In World News | Comments Disabled
Oct 13, 2012
China’s currency hit a record high against the US dollar on Friday, in what analysts said could be a response to US political pressure over claims the yuan is vastly undervalued.
The upcoming US presidential election and expectations the US government will soon release its semiannual report on exchange rate policies could have prompted Beijing to guide the yuan higher, analysts said.
The yuan touched an intraday high of nearly 6.2640 to $1.0, according to the China Foreign Exchange Trade System, marking the highest level since 1994 when the country launched its modern foreign exchange market.
“We don’t rule out the possibility of China taking pre-emptive action ahead of the US election,” Liu Dongliang, an analyst at China Merchants Bank, told AFP.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/chinas-yuan-hits-record-high-amid-us-pressure.html
URLs in this post:
 AFP: http://www.france24.com/en/20121012-chinas-yuan-hits-record-high-amid-us-pressure
 Yuan Hits Record High Against Dollar, Up 7% Since Depegging: http://www.prisonplanet.com/yuan-hits-record-high-against-dollar-up-7-since-depegging.html
 Is China Starting To Cave? Yuan Hits New Record Against The Dollar: http://www.prisonplanet.com/is-china-starting-to-cave-yuan-hits-new-record-against-the-dollar.html
 China’s yuan hits another new high against U.S. dollar: http://www.prisonplanet.com/chinas-yuan-hits-another-new-high-against-us-dollar.html
 Chinese Yuan Hits 18 Year High Against Dollar: http://www.prisonplanet.com/chinese-yuan-hits-18-year-high-against-dollar.html
 Yuan Climbs to 17-Year High Against the Dollar: http://www.prisonplanet.com/yuan-climbs-to-17-year-high-against-the-dollar.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.