The current level of China’s yuan (CNY=CFXS) is appropriate because it reflects foreign exchange supply and demand and economic fundamentals, a top central bank researcher said on Saturday, playing down talk of suspected official intervention. On Friday, the yuan ended its best week since 2007 after a rush of dollar sales over the past few days by major state-owned banks, possibly acting on behalf of the central bank. Many forex traders suspected the turnaround was engineered by the central bank to deter speculators who had been betting on further yuan falls.