Ex-Fed Chair Yellen: Need to be careful not to define domestic policy tools as currency manipulation

Bloomberg reports the recent comments delivered by the former Federal Reserve (Fed) Chairman Janet Yellen, as she warned on the US request for China to manipulate the Yuan.

Main Headlines:

Some tools used by central banks to help steady their economies can also weaken their currency.

"Monetary policy does have a systematic effect on a country's exchange rate and nevertheless I think that it's widely agreed that it should be available to be used for domestic purposes," 

"So we would want to be careful not to define domestic policy tools as currency manipulation."