US Treasury confident of China yuan moves

The Bush administration expects China will continue to move toward greater currency flexibility even though the steps taken so far have been small, a top Treasury Department official said.

Tim Adams, Treasury's undersecretary for international affairs, said China probably has done enough to avoid being branded a currency manipulator when Treasury issues its next review in October.

"I think you have to argue that the change in currency regime is a significant step and one of which is the beginni