The U.S. Treasury again shied away from labeling China a currency manipulator on Tuesday, but it rapped the country for not moving quickly enough on exchange rate reforms.
The United States also chided Japan for stepping into the currency market to stem the yen's rise, and urged South Korea to use such interventions sparingly.
The U.S. Treasury, in a semi-annual report, as usual said that statutes covering a designation of currency manipulator "have not been met with respect to China."
The report did point the finger at Japan this time, criticizing Tokyo for its solo yen-selling interventions in August and October that followed a joint Group of 7 action in the aftermath of the March 11 earthquake. (Reuters)
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