23 February 2019

US Treasury blasts China over yuan, WSJ says

The United States has lashed out at China over the “unprecedented” fall in the yuan, calling on Beijing to disclose its intervention in currency markets more regularly, the Wall Street Journal reported Tuesday. In its twice-yearly currency report, the US Treasury Department warned that the yuan’s decline would “raise particularly serious concerns” if it meant Beijing was pulling back from its public policy of scaling back intervention to let market forces play a bigger role. The department said China should make regular disclosures on its foreign-exchange market intervention to raise the credibility of its monetary policy and to promote exchange-rate and financial-market transparency, the report said. But it stopped short of labeling China or any other country a currency manipulator, it said. 

– Contact HKEJ at [email protected]



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