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US Warns China its Currency Still Undervalued

The Obama administration on Tuesday warned Beijing that it is concerned about the recent drop in China's currency, calling it “significantly undervalued” and saying it is watching the value of the yuan closely. In a semi-annual report to Congress, the U.S. Treasury stopped short of declaring China a currency manipulator, but singled it out among large U.S. trading partners for its currency practices. “Recent developments in the ... exchange rate would raise particularly...

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