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The last time the United States named any country as a currency manipulator was in 1994 during the Clinton administration when it made that accusation against China. On Japan, the report noted that the Japanese yen has fallen in value against the dollar by 12.5 percent just this year. That's occurred as the Japanese government and its central bank have pledged to pursue an aggressive policy to drive interest rates lower to bolster the Japanese economy. The U.S. government said it will continue to press Japan to use its economic policy to boost domestic consumer demand, and not as a trade weapon. Similarly, the report singled out South Korea's currency actions for discussion. It noted that South Korea had intervened in currency markets in late 2012 and early 2013 to keep the value of its currency, the won, from rising in value. The report said the administration would "continue to press the Korean authorities to limit their foreign exchange interventions" to exceptional circumstances such as when they might be needed to calm disorderly markets.
[Associated
Press;
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