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Yuan Revaluation Talk Building, But Big Trade Impact Doubted; Experts doubt a move would slash trade gap or curb Treasury buys.(A)
Byline: CHRISTINA WISE
Speculation has picked up in recent weeks that, after years of talk, China might revalue the yuan soon.
On Friday, an official Chinese newspaper said Beijing was ready to act. The Japanese yen hit a four-week high vs. the dollar and a three-month high vs. the euro.
On Monday, Treasury Secretary John Snow urged China to boost its exchange rate.
"We think they're ready and we think now is the time for them to move," Snow told CNBC.
The yuan has been pegged at 8.28 to the U.S. dollar since 1994. The U.S. and other countries contend it's undervalued and gives Chinese firms an unfair advantage.
Despite all the recent chatter, Gary Thayer, chief economist with A.G. Edwards, doesn't think a yuan revaluation is imminent.
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