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US delays controversial China currency report: Treasury

A Chinese bank worker counts 100-yuan notes and US dollar bills at a bank counter in Hefei, east China's Anhui province on September 2010. The US Treasury Department on Friday said it would delay the publication of a controversial report on China's currency policies until after a key meeting of the G20 in South Korea in mid-November.

The report, which could have labeled China a currency manipulator and opened the path for US sanctions on Chinese goods, was due to be released by Friday.

The delay avoids the prospect of a bitter trade dispute between two powers, who have faced-off over accusations that Beijing keeps the yuan undervalued to gain an unfair trade advantage.


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