Dollar, Chinese Currency | featured news

Stocks extended their winning streak Monday after China said it would allow its currency to appreciate against the dollar, a move that could provide a boost for U.S. manufacturers and exporters ...

The announcement, which you can read in English here, means the end of nearly two years of fixing the Chinese currency to the U.S. dollar, a move that most economists, including many in China, believe is on balance good for both the world and China in the long run. It will make China the most popular attendee at next week's meeting of the G-20 nations in Canada, and it will please traders who have been betting China will allow the yuan to appreciate.