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Trump admin declines to brand China a currency manipulator

AP  |  Washington 

The United States has declined to label a currency manipulator despite President Donald Trump's insistent pledge during the campaign that he would do so as soon as he took office.

Instead, the first currency review of the Trump administration singled out and five other countries as needing to be monitored for their currency practices.

The countries -- China, Japan, Germany, South Korea, and -- were the same six named in the last currency report issued by the Obama administration in October.

In an interview Wednesday, Trump had indicated that he was backing away from his campaign pledge because he felt hadn't been manipulating its currency in recent months and because labelling it as such now could jeopardise Beijing's cooperation in confronting North Korea.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 15 2017. 03:07 IST