China, Dollar | featured news

China should guard against risks from "excessive" holdings of U.S. assets as Washington could pursue a policy to weaken the dollar, a senior official at the State Administration of Foreign Exchange said in comments published on Tuesday.

Stocks extended their winning streak Monday after China said it would allow its currency to appreciate against the dollar, a move that could provide a boost for U.S. manufacturers and exporters ...

The announcement, which you can read in English here, means the end of nearly two years of fixing the Chinese currency to the U.S. dollar, a move that most economists, including many in China, believe is on balance good for both the world and China in the long run. It will make China the most popular attendee at next week's meeting of the G-20 nations in Canada, and it will please traders who have been betting China will allow the yuan to appreciate.

China, Russia and Brazil will use this week's G8 summit in Italy to push their view that the world needs to start seeking a new global reserve currency as an alternative to the dollar, officials said on Tuesday.