CANCUN, Mexico, June 24 (Reuters) - International Monetary Fund Chief Dominique Strauss-Kahn said on Tuesday that China's yuan currency is undervalued.

"Our analysis is that the renminbi (yuan) is substantially undervaluated. Obviously the undervaluation of the renminbi is not the only cause of global imbalances, but it is part of it," he told reporters at an event in the Mexican resort of Cancun. (Reporting by Jason Lange, Glenn Somerville and Luis Rojas)