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IPFS News Link • Currencies

Tim Geithner in Beijing for yuan talks

• By James Quinn,
Tim Geithner, the US Treasury Secretary, is to meet with China's vice-premier on Thursday in an unexpected visit likely to advance hopes of an end to Beijing's currency peg. Mr Geithner's meeting with Wang Qishan comes just days before President Barack Obama is due to meet with Hu Jintao, China's premier, on Monday. The unscheduled meeting, which took currency watchers somewhat by surprise, is aimed at smoothing relations between the two countries on the subject of the yuan, which has been fixed to the dollar since 2008.