Exchange Rates

China is manipulating its currency, proclaims incoming Treasury Secretary Geithner. Talking about manipulation is helpful only if ones intent is to impress a local and insult a foreign audience. More productive may be plain talk – the US and China could issue a joint statement along the lines of: China and the US agree that both will act in their respective self-interest in setting exchange rate policy.

Smart Currency Exchange weekly update for the week of 28th of October 2010 Exchange rates