MR. YUAN GONE SHANGHAI

BEIJING, 6-13-07
CHINESE YUAN ROSE TO THE HIGHEST LEVELS SINCE 2005 O/N SPECULATIONS OF FASTER GAINS TO HELP EASE TRADE TENSIONS WITH AMERICA SHORTLY AFTER TREASURY SECRETARY PAULSON URGED INCREASED CURRENCY FLEXIBILITIES. PAULSON COMMENTED YESTERDAY THAT CHINA AINT MOVING
QUICK ENOUGH O/N THE EXCHANGE RATE, A DAY BEFORE TREASURY REPORTS O/N CURRENCY MANIPULATION.

SOME OF THE U.S. SENATORS PLAN TO INTRODUCE INTO CONGRESS TODAY THE PLAN TO LET THE YUAN RISE QUICKER TO REDUCE ITS RECORD TRADE SURPLUS .

MR. YUAN GAINED .23 PERCENT TO 7.6260 AGAINST THE AMERICAN DOLLAR HIGHEST SINCE 2005 WHEN IT TRADED AT 7.6278 IN SHANGHAI. THE YUAN IS ALLOWEED TO RISE OR FALL .5 PR CENT FROM A DAILY FIXED RATE, BUT HAS RISEN 8.5 PER CENT SINCE CHINA DROPPED THE FIXED EXCHANGE RATE.