US Treasury Secretary Mnuchin: Yuan will be a focus of next round of China talks

China’s currency practices will be a topic of conversation during the next round of trade talks in China scheduled in Washington early next month, Treasury Secretary Steven Mnuchin said on Monday, according to Politico. 

Mnuchin told reporters:

"I expect the governor of the People’s Bank of China to come over for these talks. So part of the conversations we will be having with them is around currency and currency manipulation.”

Last month, the US Treasury designated China a currency manipulator after it accused Beijing of intentionally devaluing the renminbi. China's Yuan fell to 7.1842 per US Dollar on Sept. 2, its lowest level since February 2008. 

The Chinese currency fell 3.94% last month and is currently down 3.57% on a year-to-date basis.