Jump to navigation

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
Follow Futures          
       
more >>

We Asked Traders

We asked traders for their opinion on the launch of bitcoin futures

Sponsored Content

Trading

Equities.com launches unlimited trading via Tradier Brokerage, Transforming into a news & fintech portal

Featured Topics

more Commodities>>

Commodities

Energy demand steps back in play
Advertisement
more Volatility>>

Volatility

Volatility & opportunity in the energy sector
more Financials>>

Financials

Daily Price Action: E-mini S&P 500
more Options>>

Options

Trading Vertical Option Spreads

U.S. Treasury declines to name China currency manipulator

By Kasia Klimasinska and Ian Katz, Bloomberg

November 27, 2012 • Reprints

The Obama administration declined to brand China a currency manipulator, while saying the yuan “remains significantly undervalued.”

China “has substantially reduced the level of official intervention in exchange markets since the third quarter of 2011,” the Treasury Department said in a statement in Washington today. Still, further appreciation of the yuan “against the dollar and other major currencies is warranted.”

Critics of China’s exchange-rate policies, including former Republican presidential candidate Mitt Romney, say China deliberately suppresses the value of its currency, making its goods cheaper in overseas markets and costing jobs in the U.S.

Central bank Governor Zhou Xiaochuan said on Nov. 17 that full convertibility of the yuan will be the next step in the overhaul of the exchange-rate system. Signs Asia’s largest economy is starting to recover after a seven-quarter slowdown is also supporting the Chinese currency.

The U.S. ran a $295.4 billion trade deficit with China last year, about an 8 percent increase above the 2010 level. Allowing the yuan to appreciate would make Chinese goods more expensive for American consumers than they are now, reducing U.S. imports of the merchandise.

The yuan climbed to a 19-year high today after European officials reached an agreement on Greece and on signs China’s seven-quarter economic slowdown is nearing an end.

The yuan climbed 0.05 percent to 6.2223 per dollar in Shanghai, a 1 percent premium to the daily fixing, the maximum it’s allowed to fluctuate, according to the China Foreign Exchange Trade System.

Bloomberg News

About the Author

Copyright 2014 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Related Articles
Daily forex rundown: Euro, yen, Aussie & CAD
Daily forex rundown: Euro, yen, Aussie & CAD
Daily forex rundown: Euro, yen, Aussie & CAD
Trump shifts from trade to currency war; Sterling in focus
FTSE slips with pound; UK data and Syria in focus
Previous
How to set profit targets and control losses
Next
Stocks, commodities drop as Treasuries rise on budget deadlock
Related Terms
bank 6455dollar 3856forex 2882China 1906fx 1080Obama administration 333Department of the Treasury 274Yuan 149Manipulation 133Mitt Romney 108Zhou Xiaochuan 52Currency manipulation 10

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
images