USA is against Switzerland, which is one of the richest countries in Europe, and willing to admit her currency manipulator. This writes Bloomberg with reference to the largest Swiss financial holding company of the UBS Group.
Switzerland meets all three criteria necessary for inclusion in the list of currency manipulators, says the Agency. The state has a positive balance of the current account and bilateral trade surpluses. In addition, Switzerland uses foreign exchange intervention, buying dollars to prevent too strong strengthening of the Swiss franc.
the State has to resort to currency interventions because the demand for the Swiss currency strengthens during crises. Investors have traditionally considered a franc a safe-haven investment in times of global economic uncertainty. In Washington, however, believe that the Swiss authorities artificially weakening its own currency by buying the dollar, is trying to provide local manufacturers an export advantage. The Swiss side such denies the accusations.
the United States in the beginning of 2020 is already included Switzerland in the watch list of countries that according to Washington, manipulating the exchange rates. Then the decision was taken amid record for three years the strengthening of the Swiss franc in euros, Reuters wrote.
