Friday, May 24, 2013

FAIRFIELD-SUISUN, CALIFORNIA

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US declines to label China currency manipulator

By The Associated Press
From page B9 | November 28, 2012 | 2 Comments

WASHINGTON — The Obama administration declined Tuesday to label China a currency manipulator, noting that it has let the yuan rise nearly 10 percent in value against the dollar since June 2010.

The decision came in a twice-a-year Treasury report on whether any other nations are manipulating their currencies to gain trade advantages. Despite its decision, the administration said the yuan remains “significantly undervalued,” and it urged China to make further progress.

U.S. manufacturers contend that China is manipulating its currency to gain a trade advantage.

The Associated Press

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Horoscopes for May 24, 2013

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