Treasury’s Lew urges China to reduce currency interventions

WASHINGTON (Reuters) – U.S. Treasury Secretary Jack Lew told a top Chinese official on Wednesday that Washington still wants China to reduce government intervention in the foreign exchange market, a Treasury official said.

Lew and Chinese Vice Premier Wang Yang spoke by phone ahead of economic and security talks scheduled for June that will bring together senior officials from the two countries.

In the call, Lew commended China for making progress in reducing its intervention, but stressed “the importance of continuing to reduce its activities in the foreign exchange market,” the official said.

(Reporting by Jason Lange; Editing by Jeffrey Benkoe)