FXstreet.com (Barcelona) - The governor of China's central bank, Zhou Xiaochuan, hinted in a press conference on March 6 that the yuan would be left to appreciate versus the dollar but stopped well short of indicating when an adjustment would occur. The Chinese currency has been pegged at 6.83 yuan to the dollar since July 2008 when Beijing froze its exchange rate as the world-wide recession rocked the markets. Previously, the yuan had been left to appreciate versus the dollar since 2005 when the People's Bank of China ended a decades-old policy of tying the yuan to the dollar. Xiaochuan did not give any details on when the bank would take action to loosen controls on the yuan.

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