China not labeled currency manipulator in FX report, Mark Sobel notes

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Treasury FX report omits China manipulator label

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24.07.2026

China not labeled currency manipulator in FX report, Mark Sobel notes — Treasury FX report omits China manipulator label

Mark Sobel comments that the U.S. Treasury has released its latest foreign exchange report and has not labeled China a currency manipulator. According to Sobel, the Treasury has made the correct decision on this issue.

He observes that the new FX report is similar to previous ones and praises the section on China, noting positive steps toward transparency. Sobel also highlights that the next FX report, which will cover first-half 2026 data, may present greater challenges.

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Earlier, Sobel discussed the relevance of exchange rates in China's growth model, noting their ongoing influence even when not a primary driver in policy decisions (full story). He is also set to host WTO economic research counsellor Marc Auboin for a discussion in London focused on trade and finance relations (details). These activities reflect Sobel's continuing attention to international financial developments.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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