China's Hu says to let yuan float gradually: report
China will gradually adopt a floating exchange-rate system for its yuan currency, Dow Jones Newswires said on Friday in a report citing a speech by President Hu Jintao posted on China's Ministry of Foreign Affairs website.
The Chinese yuan initially strengthened against the U.S. dollar in the one-month offshore non-deliverable forward market after the Dow Jones headlines were published.
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