Currency manipulation: “China has a lot of tools to retaliate against the US”

Commentary

Currency manipulation: “China has a lot of tools to retaliate against the US”

David Dollar

February 15, 2017

The dollar sign (R) is seen alongside the signs for other currencies above a currency exchange shop in Mongkok shopping district in Hong Kong October 30, 2014. A year-long investigation into allegations of collusion and manipulation by global currency traders is set to come to a head on Wednesday, with Britain's financial regulator and six big banks expected to agree a settlement involving around ?1.5 billion ($2.38 billion) in fines. The settlement comes amid a revival of long-dormant volatility on the foreign exchanges, where a steady rise of U.S. dollar this year has depressed oil prices and the currencies of many commodity exporters such as Russia's rouble, Brazil's real and Nigeria's naira - setting the scene for more turbulence on world financial markets in 2015. Picture taken October 30, 2014. REUTERS/Damir Sagolj (CHINA - Tags: BUSINESS CRIME LAW POLITICS) ATTENTION EDITORS: PICTURE 02 OF 23 FOR WIDER IMAGE PACKAGE 'ANOTHER DAY ANOTHER DOLLAR' TO FIND ALL IMAGES SEARCH 'CURRENCY TRADERS' - RTR4DSZN