According to reports by Akeman Capital, China central bank Governor Zhou Xiaochuan has said that his country supports a strong dollar as policy makers try to stem the U.S. currency's slide. 
United States of America (Press Release) January 11, 2008 --
The rumoured reports by Akeman Capital, are that Zhou told reporters: ‘We hope to see a strong dollar.’ Zhou also said the central bank doesn't plan to raise interest rates in the near future.
The comments came three days after Treasury Secretary Henry Paulson stepped up efforts to support the dollar, which dropped to records against the euro and Canada's currency towards the end of last year. Paulson signalled on Nov. 16 of 2007 that the dollar will rebound, predicting that it will reflect ``long-term strength'' in the American economy.
In addition, sources say that reports by Akeman Capital have revealed that officials from the Group of Seven nations have increased pressure on China to allow the yuan to appreciate more and take the burden off other currencies.
Apparently reports have been issued claiming that International Monetary Fund Managing Director Dominique Strauss-Kahn recently stated that different views were expressed on the dollar at the G-20 meeting because the countries present ``don't have the same interest.'' However, Akeman Capital claim that their research has shown that Zhou rejected the suggestion that central bankers are split on the dollar, saying their positions are in fact close to each other.
The comments came three days after Treasury Secretary Henry Paulson stepped up efforts to support the dollar, which dropped to records against the euro and Canada's currency towards the end of last year. Paulson signalled on Nov. 16 of 2007 that the dollar will rebound, predicting that it will reflect ``long-term strength'' in the American economy.
In addition, sources say that reports by Akeman Capital have revealed that officials from the Group of Seven nations have increased pressure on China to allow the yuan to appreciate more and take the burden off other currencies.
Apparently reports have been issued claiming that International Monetary Fund Managing Director Dominique Strauss-Kahn recently stated that different views were expressed on the dollar at the G-20 meeting because the countries present ``don't have the same interest.'' However, Akeman Capital claim that their research has shown that Zhou rejected the suggestion that central bankers are split on the dollar, saying their positions are in fact close to each other.
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