From Financial Times:
China’s central bank stoked expectations of further renminbi appreciation on Wednesday by saying the exchange rate could play a role in addressing international payments imbalances.
The statement, in the People’s Bank of China‘s second quarter monetary report, came a day before China announced a record trade surplus for the third straight month in July, data that would add to the pressure on Beijing to adjust its currency.
There has been speculation that Beijing is poised to take a bolder approach toward the renminbi after keeping it under tight control since scrapping its peg to the US dollar a year ago.[Full Text]
