China Escapes Manipulator Label

U.S. still sees yuan as ‘significantly undervalued’ and will press China to strengthen currency.

The U.S. said it will keep pressing China to strengthen a “significantly undervalued” yuan while declining to brand the world’s second-largest economy a currency manipulator.

In its semi-annual report to Congress on exchange-rate policies, the Treasury Department said today that it will continue to “closely monitor” the pace of yuan appreciation and push for “policy changes that yield greater exchange-rate flexibility.”

Report Delays

The Treasury frequently delays the report. The last one, due Oct. 15, was released Dec. 27. The previous one, due April 15, 2011, was released May 27.

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