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

From Reuters (link)

The U.S. Treasury Department is convinced China is moving toward adopting increased flexibility though Treasury would like to see it 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 trade 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.

May 8, 2006, 2:31 PM
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Categories: Economy