US currency manipulation threat puts Singapore, Malaysia and Vietnam on guard

Malaysia was cited for its $27 billion goods surplus with the U.S. and a current account balance that squeaked just above the 2% mark. Frances Cheung, head of Asia macro strategy at Westpac Banking Corp., sees both still meeting the U.S. report’s criteria.

SINGAPORE: Asia is bracing for the latest U.S. Treasury report on foreign currency manipulators, coming in the middle of a trade war that shows no sign of ending.

The twice-yearly report is due in coming weeks and will likely see the return of Singapore, Malaysia and Vietnam on the watchlist. The three Southeast Asian nations were cited in the May report for the first time, and the Treasury says it keeps newcomers on the list for at least two straight reports. China -- which was formally labeled a currency manipulator in August -- Japan and South Korea were the other Asian economies cited at the time.