US Treasury singles out Swiss for keeping currency low

SNB explains: A file picture showing Swiss 1,000-franc notes. SNB says it intervenes in the forex market to take appreciation pressure off the franc. – Reuters

 ZURICH: Switzerland was again included among the countries singled out by the US Treasury for the value of their currencies and exports.

That could make life more complicated for the Swiss National Bank (SNB), which has used foreign exchange interventions for the better part of a decade to counter an overvalued currency that risked tipping the economy into a recession.