Targeting Yuan, Bernanke's Wrong Warpath

LONDON (MarketWatch) — Ben Bernanke is on the warpath. But it’s the wrong one. Last week he lectured the Chinese for their renminbi obduracy, claiming they were blocking worldwide recovery by refusing to allow their currency to revalue. The Chinese are easy targets. More difficult, but more worthwhile, would be to focus attention on what appears to be a far more important issue: the under-valuation of the euro.