Yahoo: US senators drop China tariffs bill, told revaluation coming
Excerpt:
The US administration and Federal Reserve chief Alan Greenspan believe China is set to revalue its currency, two US senators said after agreeing to shelve an anti-China tariffs bill for now.
Senators Charles Schumer and Lindsey Graham, after a meeting with Treasury Secretary John Snow and Greenspan, agreed to put off a late-July vote on their tariffs bill after being assured that a revaluation is coming.