Bernanke says China ready for yuan move

China can and should move toward a more flexible currency quickly to help rebalance world trade, Federal Reserve Governor and White House nominee Ben Bernanke said on Wednesday 25 May.

"I do believe they are now ready to go to a more flexible exchange rate regime and I would urge them to do that," Bernanke told a Senate Banking Committee hearing on his nomination to head U.S. President George W. Bush's Council of Economic Advisers.

"That would be part of the solution to move the U.S. back towar