U.S. Scolds Korea, Germany as Dollar Rise Spurs Imbalances

The U.S. Treasury criticized South Korea’s currency intervention and Germany’s widening trade surplus in a report that called global growth unbalanced and too reliant on the strength of the American economy.

In a semiannual report on foreign-exchange policies, the department said it has stepped up pressure on South Korea to stop intervening and let the won rise. The currency weakened 8.8 percent against the dollar in the past three quarters.