US presses China to let yuan strengthen – but avoids controversial label
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Washington says it could still designate Beijing in future if evidence found that it limits currency’s strength.

The United States has urged China to allow the yuan to appreciate, accusing Beijing of a lack of transparency and describing the currency as “substantially undervalued”. “It is important that the Chinese authorities allow the RMB exchange rate to strengthen in a timely and orderly manner in line with market pressure and macroeconomic fundamentals,” the US Treasury said in a report released on Thursday. China’s exchange-rate policies stood out among major US trading partners for their “relative…

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