‘Too early to judge’ China currency devaluation - US

WASHINGTON, D.C.: The United States said it would be premature to assess China’s surprise yuan devaluation on Tuesday (Wednesday in Manila), warning than any reversal in Chinese reforms would be “troubling.”

In the first reaction from the Obama administration to the People’s Bank of China’s nearly 2.0 percent cut in the yuan’s reference rate to the dollar, the Treasury said it had pressed China for a more flexible exchange rate that reflects the market.