Yuan Reaches 17-Year High Before Hu Meets Obama in Washington
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The yuan reached a 17-year high before Presidents Hu Jintao and Barack Obama meet in Washington today to discuss issues including China’s currency policy.
Treasury Secretary Timothy F. Geithner said yesterday the U.S. will continue to press China to allow more yuan appreciation so companies around the world can compete fairly. The currency rose last week by the most since September, erasing declines earlier in the month, according to the China Foreign Exchange Trade System.