US brands Switzerland a ‘currency manipulator’

Photo of Swiss franc

The US has accused Switzerland and Vietnam of being “currency manipulators”, saying their foreign exchange interventions had prevented “effective balance of payments adjustments”.

In the case of Vietnam, the US Treasury also accused the authorities of managing the exchange rate “for gaining unfair competitive advantage”.

The action came in the final few days of the administration of Donald Trump. The outgoing president has used the Treasury’s exchange rate reports as a means of applying

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