US: China still not on currency manipulators list – RBC CM

The  US  Treasury  kept  China,  South  Korea,  Japan, Germany and Switzerland on its currency monitoring list for  countries  it  considers  as  currency  manipulators while it softened its stance on China, commending its efforts to allow CNY to rise against USD, but urged China to open up its economy more and give market forces a greater role, notes the research team at RBC Capital Markets.

Key Quotes

“It removed Taiwan from its watch list, citing a reduction in its currency intervention and though India was not added to the watch list, the US Treasury voiced concern over a “notable increase in the scale and persistence” of India’s FX purchases and will be “closely monitoring” its currency and macroeconomic policies.”