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MNI: Treasury - No Major Trading Partners Manipulating FX

(MNI) WASHINGTON

No major U.S. trading partners are manipulating their currencies to incur an unfair trade advantage, the Treasury said Thursday, although it has placed seven countries including China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan on its monitoring list.

The report acknowledges the uncertain global economic outlook over the last year and actions by some to intervene in currency markets but concludes the "bulk of currency intervention by our partners was in fact aimed to strengthen, not weaken, their currencies."

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No major U.S. trading partners are manipulating their currencies to incur an unfair trade advantage, the Treasury said Thursday, although it has placed seven countries including China, Japan, Korea, Germany, Malaysia, Singapore, and Taiwan on its monitoring list.

The report acknowledges the uncertain global economic outlook over the last year and actions by some to intervene in currency markets but concludes the "bulk of currency intervention by our partners was in fact aimed to strengthen, not weaken, their currencies."

Keep reading...Show less