Bernanke says China's yuan is 'undervalued'

Federal Reserve chairman Ben Bernanke said Thursday 15 February he thinks the Chinese yuan is undervalued and should be allowed to trade more freely on international markets.

"I have spoken about the yuan and I think that it is undervalued and I think that the Chinese ought to allow it to be more market determined and they should continue to move in that direction," Bernanke said in response to questions during his testimony before the House Financial Services Committee.

"The Chinese have recog