Currency manipulation: Taiwan off US Treasury list, India on close watch

WASHINGTON - The US Treasury has not labelled any country a currency manipulator in its latest semi-annual report. China, Japan, South Korea, Germany and Switzerland remain on the Monitoring List, but Taiwan has been dropped.

In a research note on the report, ANZ Bank says India is being closely watched given the large increase in that country’s net FX purchases.

“We see a possibility that South Korea could be removed from the Monitoring List late next year,” ANZ adds.

“Among the Asian economies, Thailand is the closest to meeting all three criteria (for currency manipulation), but it is not a focus for the US Treasury as it falls outside of the top 12 trading partners.”  www.live.anz.com (ATI).