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US: China's Currency 'Significantly Undervalued'

The United States Treasury criticized China for "significantly" undervaluing its currency, but again refrained from labeling Beijing a currency manipulator. In its twice-yearly report, the Treasury acknowledged that China's currency has appreciated. But it said the increase is too slow and has not gone far enough. Beijing announced last month it would allow the value of the yuan to fluctuate more against the dollar -- a move welcomed by Washington. However, the...

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