Currency Report To Be Issued Wednesday.

The Bush administration said today it will send Congress its report on China's currency practices Wednesday, the Associated Press reported. A Treasury Department spokesman refused to say whether the report would accuse China of manipulating its currency to gain unfair trade advantages against U.S. companies. American firms contend that the Chinese yuan is undervalued by as much as 40 percent as a way of making Chinese goods much cheaper in the United States and American products more expensive in China. The administration is required to report every six months to Congress and cite any countries that the United States believes are manipulating their currencies for trade purposes.