Bank of Canada say yuan move takes pressure off C$

WINNIPEG, Manitoba, June 22 (BestGrowthStock) – China’s move to let
its currency appreciate will help reduce global imbalances and
take some pressure off the Canadian dollar and ultimately
benefit the Canadian economy, a Bank of Canada official said on
Tuesday.

The Chinese currency peg to the U.S. dollar had “put more
of the burden of adjustment on other currencies, including
ours,” Bank of Canada Deputy Governor Timothy Lane said in a
speech in Winnipeg.

“We would see … policies for more balanced global growth
and the rotation of demand as being something that would take
some pressure off of the Canadian dollar and basically be
beneficial to the Canadian economy.”

Stocks
(Reporting by Rod Nickel; Writing by Jeffrey Hodgson; editing
by Peter Galloway)

Bank of Canada say yuan move takes pressure off C$