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Thu 11 Nov 2009Chinese hint at stronger yuan
CHINA’S CENTRAL bank yesterday acknowledged the case for a stronger yuan, days ahead of the arrival in Beijing of President Barack Obama for talks expected to highlight mounting international concern over Chinese currency policy.
The People’s Bank of China (PBoC) said foreign exchange policy would take into account “capital flows and major currency movements”, a reference to the large speculative inflows of capital that China is receiving, and US dollar weakness.
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