06/08/2010 05:12 am ET | Updated May 25, 2011

China Will Strengthen Its Currency In Response To Obama Administration's Concerns

HONG KONG -- The Chinese government is preparing to announce in coming days that it will allow its currency to strengthen slightly and vary more from day to day, a move being taken for domestic policy reasons in China but likely to please the Obama administration, people with knowledge of the emerging consensus in Beijing said on Thursday.