China rebuts US claim that the yuan is still significantly undervalued

China has denied US accusations that the yuan was significantly undervalued, after the US Treasury said the currency's rise so far was insufficient, but stopped short of labelling Beijing a currency manipulator.

The issue is a sensitive one in Washington because of China's overwhelming surpluses in trade between the countries.

via Business feed http://www.scmp.com/business/economy/article/1093364/china-rebuts-us-claim-yuan-still-significantly-undervalued