LONDON: The threat of being named a currency manipulator by the US Treasury may be an embarrassment for Switzerland, but even if the country does get the tag, it likely will have little effect on the Swiss National Bank’s (SNB) monetary policy.
Switzerland is expected to meet all three criteria for such designation in the long-overdue US Treasury report on the foreign currency practices of major trading partners. The Treasury has some discretion on whether to issue such a label, and the coronavirus pandemic, which has thrown trade and capital flows into chaos this year, could be a factor.
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