News The US Treasury terminates Chinese designation as a currency...

The US Treasury terminates Chinese designation as a currency handler

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WASHINGTON (Reuters) – The Exchequer Department said on Monday that China should not be designated as a currency handler in a long-delayed, half-year currency report, which would end a decision in August on which financial markets had been rolled out.

The decision came as a Chinese high level delegation arrived in Washington before signing a trade agreement before Wednesday after weighing over 18 months of de-loading tariffs on global growth.

The Treasury said in its report that China made "enforceable commitments to refrain from competitive devaluation" and agreed to publish relevant data on exchange rates and external balances as part of phase 1 trade.

(Reported by Andrea Shalal and David Lawder; Editing by Sandra Maler)

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