U.S. pressure on China to raise the value of its currency amounts to Washington abdicating responsibility for ballooning deficits and would impede global economic recovery, an official Chinese newspaper said on Friday.

Expressing frustration over the Obama administration's light touch on China's yuan exchange rate, two U.S. senators asked the Commerce Department to investigate alleged Chinese currency "manipulation."

President Barack Obama has promised to broach the yuan's exchange rate when he visits China from Nov. 15-18, putting the spotlight on a controversial issue that has the potential to shake currency markets and diplomatic ties.

Investors should take a holiday from now on as the best part of the rally is over and now there are more chances that markets would go down, Marc Faber, author of the Gloom, Boom and Doom Report, told CNBC Friday.

We haven't seen the last of the crisis despite all talk about green shoots, and the surge in markets was caused by nothing more than the excess liquidity coming from central banks, Marc Faber, author of the Gloom, Boom and Doom Report, told CNBC Friday.

A California nonprofit could face criminal charges for placing foreign exchange students in homes with deplorable conditions in Pennsylvania, a prosecutor says.