China widens the yuan's trading band to 1% from 0.5%, the first such move since 2007, and coming...

|By:, SA News Editor

China widens the yuan's trading band to 1% from 0.5%, the first such move since 2007, and coming a few days ahead of G-20 talks. While the move may be aimed to quiet Western politicians who like to use such occasions to lecture the Chinese about yuan undervaluation, it could be just as likely the widened band gives the currency room to fall rather than rise.