The United States Treasury has once again raised objections over the Japanese yen and the Chinese yuan, but has stopped short of labelling China a currency manipulator.
The statements, recorded in a semiannual currency report, comes after China and Japan announced a wide-ranging currency accord on Christmas day, mostly aimed at giving the Chinese yuan a more prominent role in international trade.
The key highlight from the currency accord involves the promotion of a direct yen-yuan trade, rather than converting their currencies to the dollar.