US delays report on Chinese currency

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The Independent Online

The US Treasury is to delay by several months a report on whether China deliberately distorts the value of its currency, the yuan. Over the weekend, the US Treasury Secretary Tim Geithner said he would hold off publishing the report, which was scheduled for 15 April, after a series of meetings with high-ranking officials. The US has believed for a long time that the Chinese government keeps its currency artificially low, but wants to avoid any unilateral trade sanctions.

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