UPDATE 1-US senators vow action on China forex bill

[Bumper64]

WASHINGTON, March 23 (Reuters) - Two U.S. senators said on Tuesday they would push for quick action on a bipartisan bill aimed at making China raise the value of its currency.

Senator Charles Schumer, a New York Democrat, said he wanted a vote on the bill by the end of May regardless of whether President Barack Obama's administration has formally labeled China a currency manipulator in an April 15 report.

Senator Lindsey Graham, a South Carolina Republican, said he agreed quick congressional action was needed because the pace of China's currency reforms have been so slow.

Both senators said they believed China responded only to pressure on the currency front.

"I think our pressure is going to make a difference, not only to China, but to the administration," Schumer said.

"I think Treasury is seriously considering it," he said, when asked if thought the Obama administration would label China a currency manipulator in the upcoming report.

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http://www.reuters.com/article/idUSN2310420320100323?type=usDollarRpt

[Soldier]

In just think we are the one's thinking that our government is holding up Iraqs currency.