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US Treasury: Serious concerns on China forex policy; reviewing Senate bill–Reuters

By   || March 16, 2010 at 17:55 GMT
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A US Treasury official says they have serious concerns about Chinese forex policy and are reviewing the the Senate bill which seeks a WTO case with Chinese concessions.

The rebound in the Chinese economy and continued large accumulation of forex reserves shows China should resume CNY appreciation. China should move to a more market-oriented exchange rate, the official says.

EUR/USD is losing ground ahead of the Fed, in no small part on the uptick in trade tensions. Risk aversion is a theme that will likely accompany trade disputes.  EUR/USD trades at 1.3730.

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