Switzerland’s SNB Still Ready for Forex Intervention as U.S. Drops Manipulator Tag
John Revill, 16 April 2021
ZURICH (Reuters) – The Swiss National Bank (SNB) said on Friday it remained ready to intervene in foreign exchange markets, after the U.S. Treasury Department dropped its currency manipulator label for the country even though it met criteria for the designation.
The Swiss central bank noted the U.S. Treasury Department did not use the term currency manipulator in a new report, adding its foreign exchange purchases were not intended to alter Swiss balance of payments or unfairly help the Swiss economy.
“The SNB’s position is therefore clear: Switzerland does not engage in any currency manipulation,” the SNB said. Continue reading “Article: Switzerland’s SNB Still Ready for Forex Intervention as U.S. Drops Manipulator Tag”