China Cuts Currency Link to U.S. Dollar (AP)

[News Manager]

AP - After months of lobbying by its trading partners, China on Thursday cut its currency's link to the U.S. dollar and raised its value by about 2 percent in a move that could make Chinese exports more expensive and make foreign assets cheaper for China to buy.

http://news.yahoo.com/news?tmpl=story&u=/ap/20050721/ap_on_bi_ge/china_currency]Read more...[/url]