China's Yuan Has Biggest Gain, Highest Close Since End of Dollar Link 2005

(Bloomberg) -- China's yuan rose the most since the
end of a dollar link in July 2005 after Asian currencies that
the central bank uses to monitor its exchange rate gained. Bonds
fell.

The currency ended a four-day decline as a government
report showed the nation's trade surplus almost doubled from a
year ago to a record $26.9 billion in June. The People's Bank of
China wants a stronger currency to curb exports because the
influx of foreign exchange has helped fuel the fastest pace of
inflation in more than two years.


Read more at Bloomberg Currencies News