China supporting its currency is not manipulation, apparently

Treasury Secretary Steven Mnuchin on Tuesday praised China for supporting its currency at a time when Washington and Beijing are locked in a trade war.

“Their currency is more of a controlled currency than other markets that are free access,” Mnuchin told CNBC. “But if they go in and support their currency, that is not currency manipulation.”

“If they [China] let their currency weaken, either for structural reasons or for actual manipulation, that is something that is manipulation,” he added in the interview on “Squawk Box.”


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam