U.S. Treasury Secretary Timothy Geithner said on Saturday he welcomed China's decision to make its yuan exchange rate more flexible, and called for "vigorous implementation" of the change. "We welcome China's decision to increase the flexibility of its exchange rate," Geithner said in a statement released by the U.S. Treasury Department. "Vigorous implementation would make a positive contribution to strong and balanced global growth. We look forward to continuing our work with China in the G20 and bilaterally to strengthen the recovery." China's central bank said earlier on Saturday it will gradually make the yuan's exchange rate more flexible, indicating that it was ready to break a 23-month-old dollar peg that has come under intense criticism from the United States and other countries, Reuters reported.
