Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Lew Says He Would Push China on ‘Market-Determined’ Currency

Jacob "Jack" Lew, U.S. treasury secretary nominee and former White House chief of staff. Photographer: Andrew Harrer/Bloomberg

Feb. 20 (Bloomberg) -- Jack Lew, President Barack Obama’s nominee for U.S. Treasury secretary, said he would press China to adopt a “market-determined” exchange rate.

* Lew, in written answers to questions from members of the

Senate Finance Committee obtained today by Bloomberg News,

said if he’s confirmed, “addressing China’s exchange rate

would be a top priority.” * Lew cited “progress” in China, including a 15% gain in the

yuan against the dollar in real terms since June 2010 and a

decline in the current-account surplus from a peak of more

than 10% of gross domestic product to less than 3%. Still,

he said, “more progress is needed.”

For Related News and Information: Treasury news: NI TRE <GO> News on U.S. budget: TNI US BUD <GO> Congressional Budget Office news: NI CBO <GO>

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.