Xiaochuan confirms yuan-dollar peg

Source: AFX Asia

China's central bank governor Zhou Xiaochuan, visiting Hong Kong on his way to the IMF/World Bank meetings in the UAE, has confirmed the bank's commitment to the yuan/dollar pegsaid today there is no reason to remove the yuan's peg to the US dollar. "Right now with the current state of the Chinese exchange rate regime there's no strong reason to have any kind of sudden change," Zhou said in Hong Kong.

China has been under pressure from the US to ease the Chinese currency's peg