Home>News Center>China
       
 

China's minister cools yuan revalue talk
(Agencies)
Updated: 2005-05-06 09:06

The Japanese yen paused after a month-long rally on Thursday as comments from China's finance minister dampened wild speculation that Beijing was about to revalue its currency, the yuan.

Financial Minister Jin Renqing answers question at a press conference of the third plenary meeting of the 10th National People's Congress on March 9, 2005. [newsphoto] 
Speaking on the sidelines of an Asian Development Bank meeting in Istanbul, Chinese Finance Minister Jin Renqing said: "We will actively and prudently push forward this reform but I believe under the current situation that speculation on the renminbi (yuan) exchange rate is very hot, that pushing forward this reform is very difficult."

The Japanese yen has gained alongside other Asian currencies in recent weeks on growing speculations that China would relax controls on the yuan during this week's Labour Day holidays and let the currency strengthen.

The yen hit a six-week high of 104.15 yen to the dollar on Wednesday but eased after China's finance minister said intense speculation about yuan rise was making it difficult for China to push forward on currency reform.

Financial analysts said China's reluctance to let speculators profit from any currency change was well known and many were advising clients to stay with bullish Asian currency positions for now.

"The comments from China may have dampened speculation of a yuan revaluation over the Labour Day holiday but I think people will wait until this weekend before taking positions off the table," said Paul Robson, currency strategist at RBS Financial Markets.

The euro was a touch firmer against the dollar at $1.2970, extending gains made earlier this week as traders bets that the US Federal Reserve could get more aggressive in raising U.S. interest rates this year.

The U.S. central bank raised rates on Tuesday for an eighth consecutive time, bringing its key lending rate to 3.0 percent.



 
  Today's Top News     Top China News
 

PFP chief reiterates stance against Taiwan independence

 

   
 

China's minister cools yuan revalue talk

 

   
 

Country 'shocked' by Japan's Taiwan stance

 

   
 

Blair makes history, but loses invincibility

 

   
 

EU: No trade war with China over textiles

 

   
 

Solana: It's time to end China arms embargo

 

   
  Soong aims for 'bridge of trust'
   
  Shanghai gears up in the lane for luxury
   
  Taiwan PFP leader to begin mainland trip
   
  Chinese leaders and youth celebrate Youth Day
   
  Lien calls for cross-Straits cooperation
   
  EU urged to grant full market status
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Bank denies yuan revaluation next week
   
Bank denies yuan revaluation next week
   
RMB is not cause of US trade deficit
   
Bush, US Senate jerk up pressure on yuan
   
Yuan revaluation won't help US trade deficit
   
Yuan revaluation won't help US trade deficit
   
Yuan remains stable as forex trade surges
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 午夜影放免费观看| 国产精品青草久久久久福利99| 久久久久免费精品国产| 欧美一级片在线| 伊人亚洲综合网| 美女叉开腿让男人捅| 国产国产人免费人成免费视频| 中文字幕动漫精品专区| 在公交车上弄到高c了漫画| 一定要抓住电影在线观看完整版| 日日噜噜噜夜夜爽爽狠狠视频| 久久网免费视频| 欧洲亚洲综合一区二区三区| 亚洲最新视频在线观看| 狠狠综合久久综合网站| 十七岁高清在线观看| 老司机在线精品| 国产乱人伦无无码视频试看 | 免费又黄又硬又爽大片| 美女动作一级毛片| 国产三级国产经典国产av| 香蕉视频在线播放| 无码吃奶揉捏奶头高潮视频| 五月天精品在线| 欧美丰满白嫩bbwbbw| 午夜亚洲国产理论秋霞| 苍井空浴缸大战猛男120分钟| 国产强伦姧在线观看| 久久精品久噜噜噜久久| 国产精品久久久久影视青草| 538在线视频观看| 国内精品久久久久久久影视麻豆| bwbwbwbwbwbw精彩| 女人洗澡一级特黄毛片| 一区二区三区免费在线观看| 性做久久久久久久久| 中文国产成人精品久久不卡| 无码专区狠狠躁躁天天躁| 久久久久久久久毛片精品| 日本人强jizz多人| 亚洲狠狠婷婷综合久久蜜芽|