Gold slipped Wednesday as many investors sold holdings for a profit ahead of the Federal Reserve’s decision to buy hundreds of billions more in Treasury bonds to revitalize the economy. Get the full story »
Inside these posts: Currency
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Goldman to China: Allow stronger yuan
China should let the yuan rise further to help its transition toward a consumption-based economy, although there is no clear evidence the currency is undervalued, a senior executive at Goldman Sachs said on Monday.
Higher inflation in China had contributed to rises in the yuan’s real exchange rate, said Jim O’Neill, chairman of Goldman Sachs asset management. Get the full story »
Profit soars at Honda, Mazda on sales growth
Japanese automakers Honda and Mazda posted hefty profits despite a strengthening yen as the global recovery and government incentives for green cars drove sales higher.
Dollar resumes slide on ‘currency wars’ promise
The dollar resumed its months-long slide Monday after weekend talks by finance officials of the Group of 20 nations promised to avoid “currency wars,” but offered few specifics on enforcement.
Oct. 22, 2010 at 10:32 a.m.
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Filed under: China, Economy, International, Policy, Politics, Trade U.S. plan hits G20 headwinds
The United States struggled on Friday to win backing for its proposal of setting numerical targets for external imbalances as a way of pressing surplus countries such as China to let their exchange rates rise.
In a letter to fellow finance ministers of the Group of 20 leading economies, U.S. Treasury Secretary Timothy Geithner said countries should implement policies to reduce their current account imbalances below a specified share of national output. Get the full story »
Oct. 15, 2010 at 11:10 a.m.
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Filed under: China, Economy, International, Policy, Politics, Trade U.S. to judge China yuan policy as election nears
The Obama administration faces a tough call Friday whether to label China a currency manipulator, a move long demanded by many U.S. lawmakers but also a potentially big wrench in an important relationship. Get the full story »
Dollar dealt another blow
The dollar fell sharply against a broad range of currencies Thursday as prospects for Asian economic growth contrasted with the likely need for more stimulus in the U.S.
A monetary-tightening move overnight by the Monetary Authority of Singapore accelerated the dollar’s slide, knocking the greenback to long-term lows against rivals in Asia, Europe and North America before regaining some poise in New York trading. Get the full story »
U.S.: Markets must be allowed to drive currencies
Failure by global institutions to make a coordinated push to persuade countries such as China to let their currencies’ value rise would endanger the global economy, U.S. Treasury Secretary Timothy Geithner said Wednesday. Get the full story »
House set to pass bill aimed at China’s yuan
The House was set to pass legislation Wednesday to put pressure on China to let its currency rise faster, fanning the flames of a long-running dispute over trade and jobs.
The bill, expected to get heavy support from Democrats but a mixed reaction from Republicans, treats China’s exchange rate as a subsidy. That would open the door to extra duties on Chinese goods entering the United States, some of which are already subject to special levies. Get the full story »
Lawmaker eyes late-year Senate vote on yuan
The Senate is unlikely to vote on legislation to pressure China to raise the value of its currency until after the November 2 congressional elections, a Democratic senator said on Tuesday. Get the full story »
Obama urges Chinese premier to act on yuan
President Barack Obama said in a meeting Thursday with Chinese Premier Wen Jiabao that China needed to do more to resolve a dispute over the value of the Chinese currency, a senior U.S. official said.
Obama told Wen in their talks on the sidelines of the U.N. General Assembly that the currency was the “most important issue” of their meeting, the official said.
Dollar soars versus yen after Japan intervenes
The dollar surged on Wednesday to its highest level against the Japanese yen in September after the Bank of Japan unexpectedly moved to weaken the yen.
