October 9, 2018 / 7:40 AM / a year ago

China criticizes U.S. Treasury official's yuan remarks as groundless

A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration

BEIJING (Reuters) - China's Foreign Ministry on Tuesday said remarks by a U.S. Treasury official about the yuan's depreciation CNY=CFXS were groundless and irresponsible.

China will not use the yuan exchange rate as a tool in the trade dispute with the United States, Foreign Ministry spokesman Lu Kang told reporters in a regular briefing.

On Monday, a senior U.S. Treasury official said the United States remains concerned about China’s recent yuan depreciation and is closely monitoring yuan developments.

Reporting by Michael Martina; Writing by Stella Qiu; Editing by Shri Navaratnam

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