Yuan Climbs as China May Allow Gain After Avoiding U.S. Treasury Censure

(Bloomberg) -- The yuan climbed for a third day on
speculation China will be more willing to let the currency
strengthen after the U.S. Treasury declined to brand it an
exchange rate manipulator.

``China is averse toward a more aggressive approach by the
U.S.,'' said Nizam Idris, a foreign-exchange strategist at UBS
AG in Singapore. Chinese policy makers ``have enough reasons to
allow them to say it's domestic factors pushing them to allow
yuan appreciation.''


Read more at Bloomberg Currencies News