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: Calculated Risk

NY Times: Hu Coming to D.C. suggests possible currency deal

By Anonymous

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From Vikas Bajaj at the NY Times: Coming Visit May Signal Easing by China on Currency

[T]he announcement by Chinese authorities on Thursday that President Hu Jintao will be visiting Washington in two weeks is being seen as the beginning of a possible easing of the friction over the renminbi.
China experts said it was unlikely that China would have agreed to the visit unless there was at least an informal assurance by the Treasury Department that it would not be named a currency manipulator either on or around April 15 ? the deadline for the Obama administration to submit one of its twice-a-year reports on foreign exchange to Congress.
At the same time, economists say the visit, and other Chinese moves, suggest China is finally willing to let the renminbi increase in value.

There is much more in the article, but I think it is unlikely that China will be named a currency manipulator on April 15th - and likely that China will allow their currency to appreciate.

Full post as published by Calculated Risk on April 02, 2010 (boomark / email).