UBS Says U.S. Could Label Switzerland a Currency Manipulator

Switzerland will probably get named a currency manipulator by the U.S., making life more difficult for the country’s central bank, according to UBS Group AG.

The Swiss, who for years have been using foreign exchange interventions to prevent the franc from appreciating too much, now meet all three criteria for manipulators set out by the U.S., namely a high trade and current account surplus plus large-scale interventions, economist Alessandro Bee wrote in a note to clients.