Snow to ask China for more currency flexibility

As US Treasury Secretary John Snow and Fed chief Alan Greenspan are travelling to China for meetings with top Chinese officials on October 14, Snow told the Senate Finance Committee yesterday that he would ask China for more currency flexibility. Chinese officials have said China would allow the yuan to appreciate further, but insisted on moving at a gradual pace. Snow sidestepped questions on whether Beijing would be branded a currency manipulator in the Treasury's semiannual report due in early November.