ECB to be cautious with emerging currencies

WASHINGTON, D.C. — The European Central Bank (ECB) should keep a close eye on the rise in emerging currencies like the Chinese yuan, its president Christine Lagarde said on Wednesday at an event in Washington.

"The role of a currency should never be taken for granted," the ECB president said during an interview with the Atlantic Council in Washington, on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank.