US says more China yuan appreciation would be welcome

A senior White House official said on Friday that further appreciation in the Chinese yuan would be significant. National Security Council chief of staff Denis McDonough declined comment on a vote by a US House of Representatives committee that would place duties on countries with "undervalued currencies."

He said President Barack Obama and Chinese Premier Wen had productive talks about the issue on Thursday in New York. "We've obviously seen some appreciation in the currency and if that contnues that would be significant," he said.