Greater currency movement sought

An economist for the People's Bank of China monetary policy advisory committee has urged greater movement in the yuan's exchange rate. Yu Yongding, also a senior economist at the Chinese Academy of Sciences, said such enforced stability sent local companies the wrong message. "We should allow a bigger band and more flexibility," he told the Financial Times. The yuan is allowed to move 0.3% against the dollar each day. After three months it has risen 0.34%.