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U.S. Delays Report On China's Currency

NPR's business news starts with questions over currency manipulation in China.

The United States is delaying the release of its semiannual report to Congress on the currency policies of China and some other countries. The report could declare that China is manipulating its currency. On Saturday, the Treasury secretary of the United States, Timothy Geithner, did issue his own statement. He said China is relying on currency intervention, as he called it, and must move toward what he called a more market-oriented exchange rate.

By putting off publication of this report, analysts say the U.S. is giving China a little bit of room to let its currency slide a little bit more in line with the market. Of course, this affects the prices of Chinese exports and imports, and affects trade balances between the two countries.