Economics

Treasury’s Currency Report Seen as China's Final Warning

Release singles out China in departure from recent versions
Added focus may pressure emerging-market currencies: ING

Bank of Singapore CIO talks about the Treasury Department’s stopping short of declaring China a currency manipulator.(Source: Bloomberg)

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By Katie Greifeld

October 18, 2018 at 5:53 PM UTC

Updated on

October 18, 2018 at 9:01 PM UTC

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While the U.S. Treasury stopped short of labeling China a currency manipulator in its latest semiannual report, the department’s sharpened language didn’t escape the foreign-exchange market’s notice.

In a break from recent releases, Treasury devoted a section Wednesday to outlining concerns with China’s bilateral trade surplus and said the U.S. was “deeply disappointed” that the Asian nation doesn’t disclose its FX interventions. The department also cautioned that it will be monitoring whether countries “resist depreciation pressure in the same manner as appreciation pressure.”