Currency | featured news

Portugal was put on notice on Tuesday that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.

The United States should use all available tools, including labeling China a currency manipulator, to put pressure on Beijing to raise the value of its yuan, a U.S. watchdog panel said on Wednesday.

Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency's value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.

China lashed out at Japan and the US for their stance on territorial disputes in waters off its coast as Asian leaders gathered in Hanoi, hindering talks on currency and trade policies before a Group of 20 ...

Concluding that China has little intention of working with the United States on issues like currency, trade and security, the administration is building coalitions to confront China.

The Obama administration backed away on Friday from a showdown with Beijing over the value of China's currency that would have caused new frictions between the world's only superpower and its largest creditor.

World leaders must defuse currency tensions before they worsen to avoid repeating the mistakes of the Great Depression, the head of the World Bank said on Thursday.

China's undervalued yuan is triggering an international currency war that risks undermining the global economic recovery, U.S. Treasury Secretary Timothy Geithner said.

Treasury Secretary Timothy Geithner faces a lonely campaign to make China's currency a major issue at the next Group of 20 summit as would-be allies shrink from confronting Beijing.

U.S. industry and senior Democrats ratcheted up pressure on Congress on Wednesday for a tough new trade law to punish China for what they see as an undervalued currency that threatens American jobs and profits.