Here's the relevant text:
(11) CURRENCY.—The principal negotiating objective of the United States with respect to currency practices is that parties to a trade agreement with the United States avoid manipulating exchange rates in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage over other parties to the agreement, such as through cooperative mechanisms, enforceable rules, reporting, monitoring, transparency, or other means, as appropriate.
Finding the right balance between satisfying Congressional currency hawks, on the one hand, and trading partners who don't want any currency provisions in the TPP, on the other hand, is a challenge. Is there a middle ground out there that will do the trick?