Beijing says yuan has reached equilibrium against US dollar

China says its currency has approached its equilibrium rate against the US dollar, indicating chances are slim that the yuan will continue rising significantly.

People's Bank of China governor Zhou Xiaochuan , in a speech delivered in Tokyo on his behalf by one of his deputies, stressed the yuan's valuation is mainly determined by the market, not government intervention.

It was an apparent response to vocal concerns among US politicians, including Republican presidential nominee Mitt Romney, that the currency is deliberately undervalued.

via Business feed http://www.scmp.com/business/economy/article/1061244/beijing-says-yuan-has-reached-equilibrium-against-us-dollar