Groups urge US Senate to pass China currency bill

Published 11/16/2010, 01:18 PM
Updated 11/16/2010, 01:20 PM

WASHINGTON, Nov 16 (Reuters) - A coalition of U.S. steel manufacturers and other business groups urged the Senate on Tuesday to pass legislation in coming weeks to pressure China to raise the value of its currency.

"The Fair Currency Coalition believes it is imperative that the Senate help Main Street America by counteracting currency undervaluation by China and any other country engaging in this mercantilist practice. The time for action is now," the group said in its letter to each member of the Senate. (Reporting by Doug Palmer; Editing by Peter Cooney)

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