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U.S. Ceases To Call China FX Manipulator

The U.S. Department of Treasury has ceased from calling China a currency manipulator.

The U.S. Department of Treasury has ceased from calling China a currency manipulator, The Wall StreetJournal reports. The yuan has been declared “substantially undervalued,” according to a report, which was originally due in October, and adds that no major trading partner meets the legal standard of improperly manipulating its currency.

The results are part of a report that the Treasury Department is required to submit to Congress twice a year to determine whether other countries are manipulating their currencies. The U.S. has stopped short of calling China a currency manipulator and instead used speeches and diplomacy to pressure the country to free its control on the yuan’s value.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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