Trichet calls for yuan, Asian FX rate appreciation

ECB president Jean-Claude Trichet said Friday 23 February that there should be an appreciation in China's yuan exchange rate and other Asian currencies that aren't free-floating.

"It is clear that we think that there must be a progressive and orderly appreciation in effective terms of these currencies," he said, speaking in an online Webcast interview on the site of French newspaper Les Echos.

In the interview, Trichet also defended the interest rate policy of the ECB, saying that long-term

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