WASHINGTON, April 15 The Obama administration on
Tuesday told Beijing it was watching the value of China's
currency closely, expressing concern over its recent drop and
saying it remains "significantly undervalued."
In a semiannual report to Congress, the U.S. Treasury
stopped short of declaring China a currency manipulator, but
singled it out among large U.S. trading partners for its
"Recent developments in the ... exchange rate would raise
particularly serious concerns if they presage renewed resistance
to currency appreciation and a retreat from China's announced
policy of reducing intervention and allowing the exchange rate
to reflect market forces," the Treasury said.
(Reporting by Patrick Temple-West)