Reuters: US Dollar Report: U.S. says Chinese currency still undervalued

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U.S. says Chinese currency still undervalued Apr 4th 2012, 14:11 CHICAGO, April 4 | Wed Apr 4, 2012 10:11am EDT CHICAGO, April 4 (Reuters) - The United States thinks China's currency is still undervalued but has seen the Chinese government paring back efforts to keep the currency weaker, U.S. Treasury Secretary Timothy Geithner said on Wednesday. "China has an undervalued currency - less undervalued than it was, but still undervalued," Geithner told the Chicago Economic Club in Chicago. "They are running a policy, even though they are loosening up these controls (on the exchange rate), still designed to slow the pace at which market forces are allowed to push the exchange rate higher."

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