The Yuan And The Dollar: Obama And Chinese President To Discuss Currency Concerns


"More longer-term, China would like to see the renminbi rival the U.S. dollar's status as a global reserve currency. But this is going to take a long time," Leather says. "China's current and capital accounts need to be fully convertible before that can happen. That's no where near the case at the moment, and it's going to be a while before the renminbi even starts to challenge the U.S. dollar for that status."

Chinese President Hu

Read more...

More from Commodities

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Oil Falls as J.P. Morgan Cuts Price Forecast, Producers Ramp Up Drilling

Gold to Skyrocket as Italian Rebellion Unfolds

Gold to Skyrocket as Italian Rebellion Unfolds