Views Article – Sharenet Wealth

Forex, News

Canada, pressed on weaker yuan, says lots of reasons why currencies rise and fall

OTTAWA, Aug 14 (Reuters) – Canadian Foreign Minister Chrystia Freeland on Wednesday sidestepped a question as to whether Ottawa would accuse China of manipulating the yuan, saying there could be lots of reasons why currencies rose and fell.

Freeland, speaking to reporters in Toronto, noted the International Monetary Fund last week stood by its assessment that the value of the yuan was largely in line with economic fundamentals. Earlier in the week, Washington accused Beijing of manipulating its currency. (Reporting by David Ljunggren Editing by Nick Zieminski)

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