US Says China's Currency Still Not Strong Enough

Law360, New York (May 25, 2012, 3:19 PM EDT) -- The U.S. Department of the Treasury on Friday called on China to let its currency further strengthen against the dollar, but again declined to name the country as a currency manipulator.

In a semi-annual report to Congress on international economic and exchange rate policies, the Treasury said that despite a rise of 8 percent against the dollar from June 2010 through May 2012, further appreciation of China’s currency, the yuan, is in order.

“The available evidence suggest the [yuan] remains significantly undervalued, and we believe further...
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