Yuan to be adjusted as needed: PBOC

The People's Bank of China will further adjust the yuan's trading band when the circumstances are right, state media reported, citing the central bank's second-quarter monetary report. Following its decision to revalue the currency by 2.1% last month, China has been urged by the US and other countries to revalue it further. Beijing has been trying to dampen speculation about another early revaluation. The report said the bank would continue to keep the currency at "a reasonable and balanced level", implying flexibility and gradual change.