US Treasury Won't Label China Currency Manipulator

Law360, New York (November 27, 2012, 9:33 PM EST) -- The U.S. Department of the Treasury on Tuesday declined to label China a currency manipulator, but it said the country still has progress to make in strengthening the yuan against the dollar.

The Treasury’s Report to Congress on International Economic and Exchange Rate Policies said China has made “encouraging developments,” including a 9.3 percent rise since June 2010 of the yuan against the dollar, but that various factors indicate that the true exchange rate is still “significantly” undervalued.

“Chinese authorities acknowledge the need for continued exchange...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.