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Geithner on yuan trip in Beijing

US Treasury secretary Tim Geithner will meet China’s vice-premier, Wang Qishan today, in a session that will fuel hopes of an end to the nation’s pegging of its currency to the dollar. President Barack Obama is also due to meet with Hu Jintao, China’s premier, on Monday. US officials have long argued pegging the yuan to the greenback, which began in mid-2008 as the financial crisis worsened, only serves to increase the trade deficit between the two countries. Until now Beijing has resisted calls for the policy to change. In a significant move, Geithner said he would delay the publication of a report into whether China manipulates its currency by preventing it from rising until next week.