U.S. Urges China to Allow Bigger Market Role in Valuing Yuan
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The U.S. urged China to reduce currency interventions and let markets play a bigger role in setting the value of the yuan, in a report that declined to name any major trading partner a foreign-exchange manipulator.
“There are a number of continuing signs that the exchange-rate adjustment process remains incomplete and the currency has further to appreciate,” the Treasury Department said yesterday in a semiannual report to Congress.