The U.S. Treasury Department will delay the publication of its report on currencies mainly due to the upcoming G20 summit and a series of other world leader meetings.

The department is required to issue a report every six months on whether any countries are manipulating its currency for an unfair trade advantage. But it noted the yuan's rise of roughly 3 percent against the dollar since June 19th, when China announced it was renewing exchange rate reform.

Since September 2nd, the pace of appreciation has accelerated to more than 1 percent per month. If this pace is sustained over time, the US may not continue to view the RMB exchange rate as undervalued.