April 29, 2011

Good news for USA economy: Chinese currency gets stronger

BBC: China's yuan rises past 6.50 against the US dollar
Bank staff deals with Chinese currency China's currency has been climbing against the US dollar.

China's currency, the yuan, strengthened past a key level against the US dollar on Friday, as part of wider efforts to contain inflation on the mainland.

The yuan broke past 6.50 against the dollar, a level not seen since 1993.

Traders and currency strategists believe the move is a sign that China's central bank is prepared to allow the currency to appreciate further.

A stronger currency means imported products become cheaper in China.
THIS IS GOOD FOR THE USA AND THE WEST. FASTER PLEASE AND MORE!

WILL IT PREVENT THE CHINESE BUBBLE FROM BURSTING?

STAY TUNED...

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