By  on July 9, 2010

WASHINGTON — The Treasury Department declined to name China a currency manipulator on Thursday in its biannual report on foreign exchange rates.

China said last month it would move toward a more flexible exchange rate for the yuan, following months of increasing tensions with the U.S. over its currency policies. The exchange rate report was originally due to be released in April, but the Treasury Department delayed it for three months to allow for diplomatic engagement between the two countries at the G-20 meeting in Toronto last month and the Strategic and Economic Dialog in May.

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