Snow repeats call for action on China peg

U.S. Treasury Secretary John Snow on Friday 13 May renewed pressure on China to let its currency trade freely, saying the United States has made clear it wants Beijing to move to a flexible exchange rate soon.

"Now is the time, and we're anxious to see them move," Snow said in an interview on CNBC television. "It is a sovereign decision, but they know that we want to see them move now."

Snow said he believes China's economy is prepared to accommodate a flexible exchange rate.

"We've had any nu