Japan Asks China to Take Required Decision on Yuan

Japan's Finance Minister on Saturday asked China to undertake an apt decision on its foreign exchange policy, however, stopped just short of actually recommending it what to do.
Naoto Kan made the remarks at a news conference quoting, "I told Wen that I believe China's stable foreign exchange rate policy has helped ease the recent financial turmoil, and asked him to continue to make an appropriate decision" on the currency problem.
International disquiet has grown over the Yuan, which critics say is undervalued by as much as 40 percent against the Dollar, giving Chinese exporters an unfair advantage.
Kan's first ever trip to Japan's largest trading partner as Finance Chief is posted to emerge as the result of a debate between China and U. S. lawmakers that has exacerbated over whether the Chinese currency should appreciate.
US lawmakers are nudging the Treasury Secretary Timothy Geithner, calling to label Beijing a "currency manipulator" in a report due April 15.
Currently, the Yuan scenario is ambiguous; it may climb or fall 0.5 percent against the Dollar each day from a mid-point set by the China's central bank and three percent against non-Dollar currencies including the Euro and Japanese Yen.