US removes 'currency manipulator' label from China

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US removes 'currency manipulator' label from China

The US Treasury has said China should "no longer be designated a currency manipulator at this time" as the two countries prepare to sign a 'phase one' trade deal this week. China was labelled a currency manipulator in August last year, when US President Donald Trump said the country had allowed the Chinese renminbi (RMB) to devalue. In a report published yesterday (13 January), the US Treasury department stated that after depreciating as far as RMB7.18 per US dollar in early September...

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