WRAPUP 1-China cool to stronger yuan as IMF calls for rise
* IMF head says stronger yuan would boost domestic demand
* U.S. President Obama urges China to help balance growth
* China official says yuan not root of trade surplus
* Market pricing shows yuan-rise expectations cooling
By Jason Subler and Aileen Wang
BEIJING, Nov 16 (Reuters) - China's Commerce Ministry on Monday rebuffed calls for the yuan to appreciate, signalling resistance to change in a controversial foreign exchange policy that loomed over U.S. President Barack Obama's first visit to the Asian giant.
Outside pressure has been building on Beijing to let the yuan rise after more than a year of it being nearly frozen in place against the dollar, with the latest appeal voiced by the head of the International Monetary Fund on Monday.
China's central bank last week tweaked its description of how it manages the currency, setting off a firestorm of speculation that it might be willing to give the yuan some room to run, though market expectations of appreciation have remained muted.
Any change in policy as important as exchange rate management will need to come from China's top leadership, bridging the views of different parts of the government. The commerce ministry made clear its position. Continued...
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