• says currency practices of 10 countries require close attention, but no major US trade partner met criteria for currency manipulation
• Says China made ‘enforceable commitments to refrain from competitive devaluation’ in phase 1 trade deal withUS
• says China should ‘no longer be designated as a currency manipulator’ in semi-annual currency report
• China needs to take necessary steps to avoid a persistently weak currency
• China also agreed in trade deal to publish relevant data on exchange rates and external balances
• Says improved economic fundamentals and structural policy reforms would underpin stronger Chinese yuan over time
• Says continuing to monitor currency practices of China, Germany, Ireland, Italy, Japan, South Korea, Malaysia, Singapore, Vietnam and Switzerland
• China must take decisive steps to further rebalance economy, allow greater market openness to strengthen long-term growth prospects

• Switzerland should use ample fiscal space to more forcefully support domestic activity – treasury
• Japan should enact bolder structural reforms to strengthen domestic demand
• Germany’s current account surplus remains largest in world, sees urgent need for Germany to cut taxes, boost domestic investment
• Ireland only meets one of three criteria to be on monitoring list, would be removed in next report if that remains the case
• Taiwan, Thailand close to triggering thresholds to be added to currency monitoring list
• continued dollar strength is “concerning” given INF’s judgment that dollar is overvalued on a real effective basis
• Says real dollar remains about 8% above its 20-year average; sustained dollar strength would likely exacerbate persistent trade, current account imbalances

I wonder if politics played a role in removing the currency manipulator label from China? LOL, I’m kidding. I am not wondering at all.