US Warns Japan Over Devaluing Yen, China Over Transparency

Law360, Los Angeles (April 15, 2013, 8:04 PM EDT) -- The U.S. Department of the Treasury on Friday issued a foreign exchange rate policy report warning Japan over devaluing its currency in order to gain a competitive advantage and criticizing China for a lack of transparency with its foreign reserve data.

In its semi-annual Report to Congress on International Economic and Exchange Rate Policies, the Treasury Department said China continued to lack transparency in its exchange rate practices and that the country's yuan remained “significantly undervalued.” However, the report did not refer to China as a...
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