SPY FXI EWJ U.S. Treasury: China is not labeled a currency manipulator but it stands out among trading Partners for lack of transparency on

SPY FXI EWJ U.S. Treasury: China is not labeled a currency manipulator but it stands out among trading Partners for lack of transparency on exchange rate practices and policies U.S. Treasury notes semi-annual currency report concluded no major U.S. trading Partners manipulated currency to gain unfair trade advantage during four quarters through December 2025 U.S. Treasury keeps China, Japan, South Korea, Singapore, Taiwan, Thailand, Vietnam, Germany, Ireland and Switzerland on currency monitoring list U.S. Treasury: Thailand, Singapore and Switzerland each met just one of the monitoring list criteria and will be removed from list in next report if they meet fewer than two criteria at that time - As previously noted, Treasury will continue with strengthened analysis of major trading Partners as detailed in January report - No major trading Partners met all three criteria for enhanced analysis during review period - Japan did not intervene in FX markets during report period and remains exceptionally transparent about intervention activity