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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (17024)	11/28/2004 11:31:41 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

Yuan Forwards Drop After Wen Says China Won't Bow to Pressure Nov. 29 (Bloomberg) -- Traders decreased bets the yuan will be allowed to strengthen after Chinese Premier Wen Jiabao said China won't relax the currency's fixed exchange rate to the dollar under pressure from other countries. Revaluation ``should be introduced when the timing is right,'' the Hong Kong-based South China Morning Post cited Wen as saying during the Association of Southeast Asian Nations summit in Laos. ``Rampant speculative activities on the yuan'' will make the introduction of any measures ``impossible,'' Wen said, according to the paper. quote.bloomberg.com