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U.S. Treasury Declines to Name China Currency Manipulator

 
Anonymous Coward
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11/27/2012 06:41 PM
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U.S. Treasury Declines to Name China Currency Manipulator
The Obama administration declined to brand China a currency manipulator, while saying the yuan “remains significantly undervalued.”

China “has substantially reduced the level of official intervention in exchange markets since the third quarter of 2011,” the Treasury Department said in a statement accompanying its semi-annual currency report to Congress in Washington today. Still, further appreciation of the yuan “against the dollar and other major currencies is warranted.”



[link to www.bloomberg.com]

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