U.S. Treasury softens stance on China's currency

WASHINGTON (MarketWatch) - The U.S. Treasury on Monday softened its stance on China's currency. In its semi-annual report on exchange rates, Treasury dropped its prior assertion that China's currency is "significantly undervalued." Instead, the report said the yuan "remains below its appropriate medium-term valuation." The administration said the near-term trajectory of China's currency is "difficult to assess" given economic uncertainties, volatile capital flows and prospects for slower growth" in the country. China's currency has depreciated 2.3% against the dollar through September after......(read more)

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