The Bush administration has told key Senators that it expects China to revalue its currency in August ahead of a planned visit to Washington by President Hu Jintao in September, the Financial Times reported, citing people familiar with the matter. Senators Charles Schumer and Lindsey Graham, co-sponsors of a bill that would impose a 27.5% tariff on Chinese imports, agreed to delay a vote on their bill after receiving what they regarded as an assurance that China will move on its currency next month, the FT reported. In a June meeting attended by Alan Greenspan, Federal Reserve chairman, John Snow, Treasury secretary, told the senators that he believed China would allow the value of the yuan to increase against the dollar in August, the people familiar with the discussion said.