Treasury Punts On Labeling China As Currency Manipulator
Law360, New York (April 10, 2015, 3:58 PM EDT) -- With pressure mounting on the Obama administration to tackle foreign currency intervention as a trade barrier, the U.S. Treasury Department on Thursday found that China's renminbi is still "significantly undervalued" but again stopped short of labeling the country a currency manipulator.
The agency said that economic conditions improved in China in recent months as the country boasted a current account surplus of $200 billion by the end of last year. Given that dynamic, Treasury said that the factors for a more speedy appreciation of the country's RMB value remain intact and that Beijing should continue to move toward a market-based exchange...
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