Article: Swiss franc climbs after US adds it to ‘manipulation’ watchlist

Article - Media, Publications

Swiss franc climbs after US adds it to ‘manipulation’ watchlist

Sam Jones in Zurich and Eva Szalay in London , 15 January 2020

The Swiss franc nudged up to a near three-year high against the euro on Tuesday as markets anticipated the move would limit the Swiss National Bank’s appetite for aggressive action to try to hold down its currency in future.

“The report is a warning shot to the SNB,” said George Saravelos, global co-head of currency research at Deutsche Bank, adding that the franc is likely to push higher from here. It now trades around CHF1.08 against the euro.

The US called on Bern on Monday to “more forcefully support domestic economic activity” by spending money and reducing the country’s already low tax burden, in what was an unusual swipe at a sovereign nation’s financial affairs. “Despite borrowing costs for the Swiss government being among the lowest in the world, fiscal policy remains underutilised, even within the constraints of Switzerland’s existing fiscal rules,” the US Treasury said in its assessment.

The SNB said on Tuesday that its interventions were transparent, and “motivated purely by monetary policy . . . aimed at addressing the negative consequence for inflation and the economy through a highly valued franc.”

“They are not aimed at giving Switzerland advantages by undervaluing the Swiss franc,” it added.

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Article: Fact check: Trump says Blumenthal lied (he did) and bragged (he didn’t)

Article - Media, Publications

Fact check: Trump says Blumenthal lied (he did) and bragged (he didn’t)

Jane C. Timm, 30 September 2018

President Donald Trump attacked Sen. Richard Blumenthal, D-Conn., for misleading voters, making some false claims of his own in the process.

“Senator Richard Blumenthal must talk about his fraudulent service in Vietnam, where for 12 years he told the people of Connecticut, as their Attorney General, that he was a great Marine War Hero. Talked about his many battles of near death, but was never in Vietnam. Total Phony!” Trump tweeted. Continue reading “Article: Fact check: Trump says Blumenthal lied (he did) and bragged (he didn’t)”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?