Chair of Senate Committee Comments on China Revaluing Its Currency

U.S. Newswire

WASHINGTON, July 21 /U.S. Newswire/ -- U.S. Senator Olympia J. Snowe, Chair of the Senate Committee on Small Business and Entrepreneurship, issued the following statement in response to China's announcement today that it is upwardly revaluing its currency, the yuan, by 2.1 percent and that it has replaced its practice of a fixed dollar peg, for a system based on a basket of currencies:

Snowe: 'More Remains to Be Done to Address China's Currency Manipulation'; Senator Believes China's Actions on Currency Are a Step in Right Direction, But More Must Be Done