Former US Federal Reserve chair Janet Yellen says central banks need to be able to use all policy levers, including exchange rates, to meet domestic economic needs. Photo: Reuters
US must be ‘careful’ in demanding stable Chinese yuan to end trade war, says former US central bank head
- Former US Federal Reserve chair Janet Yellen said it is ‘difficult and treacherous’ to define when a country is manipulating its currency
- Donald Trump’s administration have alleged China has been manipulating the currency in a bid to offset increased tariffs
Topic |
Yuan
Former US Federal Reserve chair Janet Yellen says central banks need to be able to use all policy levers, including exchange rates, to meet domestic economic needs. Photo: Reuters
The yuan rose 0.51 per cent to 6.7242 per dollar in China on Wednesday after earlier in the day rallying by as much as 0.58 per cent, its biggest daily gain since January 25. Photo: Reuters
Donald Trump’s demand for stable yuan to end US-China trade war ‘acceptable’ to Beijing
- Report suggests United States wants China to keep the value of the yuan stable as part of trade negotiations between the world’s two largest economies
- Move by Washington aimed at neutralising any effort by Beijing to devalue its currency to counter American tariffs during the ongoing trade war
Topic |
China economy
The yuan rose 0.51 per cent to 6.7242 per dollar in China on Wednesday after earlier in the day rallying by as much as 0.58 per cent, its biggest daily gain since January 25. Photo: Reuters