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U.S. Treasury says Switzerland exceeds currency thresholds, but no manipulator label -Breaking


© Reuters. FILE PHOTO – The United States Department of the Treasury can be seen at Washington, D.C., U.S.A, August 30, 2020. REUTERS/Andrew Kelly

WASHINGTON (Reuters] – Friday’s statement by the U.S. Treasury Department stated that Switzerland was still exceeding its limits for currency manipulation as per a U.S. trade legislation in 2015. However, they did not declare it a currency manipulater.

According to the Treasury, it will continue its enhanced bilateral engagements with Switzerland. These began in 2021 and have been ongoing to explore options for Swiss authorities to correct external imbalances.

Vietnam and Taiwan both continued to exceed certain currency manipulation thresholds, Treasury reported in its semiannual report. Treasury also stated that they would continue their in-depth analyses of exchange rate policy.

It was concluded that the major trading partners did not manipulate their currency with the U.S. Dollar to avoid effective balance payments adjustments, or gain an unfair advantage in international trade.