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U.S. Treasury staff concludes China not manipulating yuan: report

The U.S. Treasury staff has concluded that China isn’t manipulating the yuan, according toa report by Bloomberg News. The report, quoting two people familiar with the matter, said the finding has been sent to Treasury Secretary Steven Mnuchin, who is in Asia for talks with global financial leaders at the IMF’s annual meeting. Ahead of the trip, Mnuchin warned China not to engage in competitive devaluations of the yuan as the two countries continue their sharp disagreements over trade issues. Treasury is due to put out its biannual report on currency issues this month.

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