The Yuan has risen to new highs against the US. Dollar today to its highest level since Beijing revalued the Yuan 16 months ago. The Yuan has been hitting higher levels against the US. Dollar almost every week despite only gradual appreciation. In forex against the Dollar, the Yuan was worth 7.8697 US. cents which is higher in comparison to Wednesday's close of 7.8661. Since the cutting of its direct link to the US. Dollar on July 1, 2005, the Yuan has gained around 3 percent. The central bank of China only allows the Dollar and Yuan pair an 0.3 percent movement during trading. The US. and China's other trading partners have been pushing for a faster increase, saying that a weak Chinese currency is adding to China's large trade surplus by making China's goods cheaper and a lot more competitive. The global trade gap for China hit $23.8 billion dollars in October which is a record high for any month, bring its surplus total for the first 10 months of this year to $133.6 billion which is way above the total surplus of 2005 which is $102 billion.
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