China conducts yuan stress tests, trade chamber says

The government should delay the resumption in gains to give exporters more time to recover from the global recession, Zhang Wei, vice chairman of the business group, told a press briefing in Beijing Thursday. The yuan's 12-month forwards climbed 0.1 percent to 6.6651 per dollar.

Foreign pressure has intensified since Premier Wen Jiabao on March 14 rebuffed calls for an end to the 20-month-old dollar peg, saying the yuan isn't undervalued. Forward contracts still reflect bets the yuan will strengthen 2.4 percent from the spot rate of 6.8264 in the coming year as the central bank seeks to curb the cost of import prices and rein in inflation.

“It's only a matter of time,” said Emmanuel Ng, a currency strategist at Oversea-Chinese Banking Corp. in Singapore.

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