China Central Bank 'Resolutely Opposed' to US Currency Manipulator Label

Beijing: China's central bank said Tuesday it is "resolutely opposed" to the US labeling Beijing a currency manipulator as trade tensions surge between the world's two biggest economies.

"The US side disregarded the facts and unreasonably labelled China a 'currency manipulator'," the central bank said in a statement.

"The Chinese side is resolutely opposed to this," the bank said.

The Chinese currency steadied on Tuesday, a day after Beijing let the yuan plunge below the key 7.0 per dollar threshold.