U.S. Tags Switzerland Currency Manipulator, Keeps China on Watch
- Treasury releases semiannual foreign-exchange report
- Taiwan, Thailand and India added to watch list of 10
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The U.S. Treasury Department designated Switzerland and Vietnam as currency manipulators for the first time, while keeping China on a watch list, in the Trump administration’s final foreign-exchange policy report.
Having removed the manipulator label from China in January, the Treasury urged the world’s second-largest economy to “improve transparency” in its currency management, especially of its central bank’s relationship with state-owned banks -- which market participants say can act in the currency market with official guidance.