China is March 17 announced to decide it needs to adopt a flexible forex rate policy. "It's an important issue for China, for all China's trading partners, and I'll say as I've said before, I think China will decide ultimately it's in their interest to move," Geithner said in an interview on Fox Business Television.
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The euro rose against the dollar to intraday peaks, according to Reuters data on forex. It last traded at $1.3777, up 0.7 percent on the day.

The euro had started gaining earlier in the global session after European Union finance ministers backed plans to help Greece if needed and Standard & Poor's affirmed its ratings on the debt-stricken country and ended its review for a downgrade. For the S&P story, click on [ID:nN16231275].
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The euro jumped by 0.12% to CHF1.4631 against the franc after the announcement, which followed the central bank quarterly monetary policy meeting. However, it didn't move above its range for the previous day and immediately sank back down, suggesting traders and investors still expect the franc to climb over the medium term.
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The Commerce Department is slated to release U.S. retail sales for February on Friday, with economists polled by Reuters looking for a decline of 0.2 percent. In late forex trading, the euro was up 0.1 percent at $1.3673. The euro peaked intraday at $1.3687 with a low of $1.3620, according to ibfx data.
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Asian shares rose on March 9, 2010, while [FONT-SIZE=4][/FONT-SIZE][I][/I]ibfx encouraging Austrilian data reinforcing views while global key economy was steadily recovering, fuelling a move into riskier assets. The ringgit opened unchanged towards AUD this month after Monday's impressive gains in the local equities and currency markets.
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The USD/JPY finished higher despite increasing demand for lower yielding assets. Technical factors may have contributed most to Thursday's rise after strong buying came in following a test of a major Fibonacci retracement level at 88.24. In addition, the failure to accelerate to the ibfx downside after breaking a previous swing bottom at 88.55 may have scared weaker shorts out of the market. The strong close helped form a reversal bottom which could trigger a further move to 90.14 over the near term.
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Chinese forex gains during recent years were close to a pre-crisis level, according to Yi Gang from the State Administration of Foreign Exchange. Mr. Yi said that China has fully considered risk control in the allocation of ibfx investment in currencies and assets, and the country did not engage in short-term speculation or invest in high-risk products such as subprime mortgages.
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Gains in the euro were limited after Greek Prime Minister George Papandreou on March 9 warned that if the Greek crisis worsened it could lead to a new global financial meltdown. "Sarkozy giving a thumbs up to the euro and an EU backing for Greece gave us a better bid tone before we started the ibfx market this morning," said Dean Popplewell, chief currency strategist, at OANDA in Toronto.
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The Japanese Yen March 9 remains unchanged towards the USD dollar in a 19 pip range, while the crosses slipped back in forex trading . GBP/JPY and EUR/JPY were the biggest losers as the pairs tracked their majors lower. Overall the IBFX traded with a low of 90.13 and a high of 90.68 before closing the day around 90.25 in the New York session. Looking ahead, January Leading Indicators previously at 3.
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The U.S. dollar was lower on the yen slipping to 90.25 yen from 90.29 yen late on March 3 in Australia. Meanwhile, according to IBFX, the greenback rallied on the U.S. dollar to a two-week high of 90.68 yen on Monday, after a better-than-expected U.S. jobs report backed views that the U.S. Federal Reserve will lift rates faster than the Bank of Japan.
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