In the US Treasury Department’s semiannual foreign-exchange report to Congress, Switzerland was added to the monitoring list regarding currency manipulation, along with China, Japan, Korea, Germany, Italy, Ireland, Singapore, Malaysia, Vietnam. The Treasury urged Swiss officials to publish intervention data more frequently.
In response, Swiss Finance Ministry said in a statement, “it should be stressed that Switzerland does not in any way engage in manipulation of its currency to prevent adjustments to the balance of payments or gain unjustified competitive advantage.”
