U.S. says China moving on forex flexibility but slow – Reuters

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The U.S. Treasury Department is convinced is moving toward adopting increased currency flexibility though Treasury would like to see do so faster, a spokesman said on Monday.

“If you look at what China is doing in exercising their commitment on putting in place a foreign exchange regime that has greater flexibility and an economy that is more flexible, you see some evidence that they’re doing that,” Treasury spokesman Tony Fratto said.

Treasury is to issue its report on currency practices of key partners on Wednesday, with the key focus on whether or not China will be named a country that manipulates its currency as some U.S. legislators want Treasury to do.

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