"Just a day after there was much hoopla about the Chinese finally changing their policy, they are already backing off. It vindicates our initial skepticism," said Mr. Schumer, New York Democrat and a prominent critic of China's exchange-rate behavior.
China's flexibility on yuan disputed →
Sen. Charles E. Schumer said Sunday that China's gradual approach to lifting its currency peg amounted to "backing off" its promises, and urged strong legislation that might force further changes.