G20

China's yuan jumped on Tuesday to its highest level since the currency was revalued in 2005 as the central bank signaled it would tolerate yet further gains to make good on its vow for more foreign exchange flexibility.

China's surprise move to relax currency controls ahead of this weekend's G20 summit buoyed global markets and sent the yuan to a five-year peak on Monday, but caution returned as analysts questioned how far Beijing's new currency flexibility would go.

China's yuan hit a five-year peak on Monday after Beijing suddenly relaxed controls ahead of this weekend's G20 summit, sparking stock gains around the world and questions about just how far China's new currency flexibility would go.

China's yuan surged to a five-year peak on Monday, sending stocks higher across the globe as Beijing signaled ahead of this weekend's G20 summit that it would deliver on pledges of greater currency flexibility.

Leaders of some of the Group of 20 nations meeting in Canada this weekend will want to hear more about how China plans to make its currency more flexible, Canadian Finance Minister Jim Flaherty said on Monday.

China's yuan surged on Monday by the most of any day since its landmark revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is keeping to its word and allowing greater currency flexibility.

China's yuan surged on Monday by the most of any day since its landmark revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is keeping to its word and allowing greater currency flexibility.

China's currency will not be a specific topic of discussion at the G8/G20 meeting, while paying for future oil spills will be on the agenda, the Kremlin's top economic aide said on Monday.

Policymakers in the world's major economies will closely monitor the Chinese yuan this week for signs it is actually moving after Beijing announced it would make its exchange rate more flexible.

China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday, indicating that it was ready to break a 23-month-old U.S. dollar peg that has come under intense fire from abroad.

China said on Saturday it would gradually make the yuan more flexible, in a gesture that may deflect foreign criticism at next week's G20 summit but will not quickly yield a big move by its currency.

Europe will push for a swift exit from fiscal stimulus programs and a focus on budget consolidation at the G20 meeting next week, German Chancellor Angela Merkel said on Saturday.

The United States pressed China on Friday to move toward a market-based exchange rate, but Beijing said not to meddle with its management of the yuan, setting the stage for a clash at next week's G20 summit.

The United States pressed China on Friday to move toward a market-based exchange rate but Beijing said not to meddle with its management of the yuan, setting the stage for a clash at next week's G20 summit.

China told the rest of the world on Friday not to meddle with the way it manages the yuan, setting the stage for a clash with its biggest trading partners at next week's G20 summit.

President Barack Obama raised the prospect of a clash with China at a summit next week by calling for market-determined exchange rates, shortly after Beijing told the world not to criticize its currency policy.

China told the rest of the world on Friday not to meddle with the way it manages the yuan, calling the exchange rate a sovereign matter for it alone to decide and all but ruling it out of bounds at next week's G20 summit.

Finger-pointing at the G20 will be self-defeating for an international forum that should be focused on coordination, not criticism, of economic policies, a senior Chinese government official said.

Finger-pointing at the G20 will be self-defeating for an international forum that should be focused on coordination, not criticism, of economic policies, a senior Chinese government official said.

Bank of Canada Governor Mark Carney urged the G20 on Thursday to push ahead quickly with radical financial reforms but signaled flexibility on when new global banking rules would be phased in.

China's currency policies were spared a specific mention in the Group of 20 communique on Saturday, but U.S. Treasury Secretary Timothy Geithner and the IMF kept up pressure for a stronger yuan.