U.S. Keeps Japan, Others on Forex Policy Watch List

Politics

Washington, Jan. 13 (Jiji Press)--The U.S. Department of Treasury kept Japan and some other countries on its foreign exchange policy watch list in a semiannual report released on Monday.

The U.S. department, meanwhile, removed the designation of China as a currency manipulator, after the world's two largest economies reached a "phase one" trade deal, which included a commitment by China to refrain from currency devaluation.

The deal came after the U.S. government, under President Donald Trump, last August labeled China a currency manipulator for the first time in 25 years.

In the latest report on macroeconomic and foreign exchange polices of major trading partners of the United States, the foreign exchange monitoring list comprises Japan, China, South Korea, Germany and six others including Switzerland, which was put back on the list.

The department called on Japan to reserve currency market intervention "only for very exceptional circumstances with prior consultations."

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Jiji Press