S.Korea says can`t rule out US branding it a currency manipulator

by Dramelin 9:30 PM 0 comments

"The U.
S.
Treasury designated Taiwan and South Korea as currency manipulators in 1988, the year that Congress enacted the currency review law.
South Korea`s finance minister said on Friday the possibility of the United States branding South Korea a currency manipulator could not be ruled out, if the United States changes its criteria.
Westpac Bank`s senior currency strategist Sean Callow told CNBC Friday that the U.
S.
would consider the scale of South Korea`s intervention before labelling the country as a manipulator.
Finance Minister Yoo Il-ho told reporters that while South Korea won`t be branded as a currency manipulator under the current criteria used by the Treasury, there could be "problems" if the U.
S.
decides to change such determinants.
"Those problems cannot completely be ruled out, as there is a new administration," Yoo said, adding that currency volatility could increase if the country was branded as one.