Yuan hits record high amid calls

But Obama still claims currency not appreciating fast enough

BEIJING - The yuan hit a new high on Tuesday amid fresh US calls for a faster currency appreciation, but economists said China should brush aside foreign pressure and decide the pace of exchange rate reform in accordance with its own economic conditions.

The yuan was traded at 6.6997 against the greenback on Tuesday, the highest level since June 19 when China pledged to make the mechanism governing the yuan's exchange rate with other currencies more flexible. The yuan has risen for eight consecutive days and it has increased 1.9 percent against the US dollar since June 19.