US Treasury Secretary Mnuchin said if China stops manipulating the yuan it'll be labelled a manipulator (yes, really)

This is a hoot from Mnuchin, he said in June

• that China was intervening in currency markets to prop up the yuan,
• and warned it could be designated a manipulator if it stopped

Via Bloomberg.

LOL.

The PBOC has basically given way to market pressure to weaken the yuan. If effect they have reduced the manipulation,