US puts pressure on South Korea to let won rise
It also criticises Germany's widening trade surplus, says global growth too reliant on US
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Washington
THE US Treasury has criticised South Korea's currency intervention and Germany's widening trade surplus in a report that called global growth unbalanced and too reliant on the strength of the American economy.
In a semi-annual report on foreign exchange policies, the department said it has stepped up pressure on South Korea to stop intervening and let the won rise. The currency weakened 8.8 per cent against the US dollar in the past three quarters.
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