China/US Currency Stand-Off

  Speculation about an imminent move in the value of the Renminbi has intensified amid rising trade tensions between the US and China.The US Treasury has delayed its semi-annual foreign exchange report indefinitely. The Treasury has been under increasing pressure to & #160;label China a & quot;currency manipulator & quot;.Whether that satisfies a & #160;group of US politicians & #160;threatening increases in tariffs on Chinese imports, remains to be seen.Meanwhile, Chinese Premier Wen Jiabao has rejected claims the Renminbi is severely undervalued and the AMP's chief economist, Dr Shane Oliver says there is a sense that new found confidence may be forcing Chinese leaders to stand up more to US demands.  

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