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U.S. Treasury Currency Report Says No Major Trading Partner Has Manipulated Exchange Rates


U.S. Treasury Currency Report

The U.S. Treasury Currency Report says:

  • no major trading partner has manipulated exchange rates to prevent balance of payments adjustments or gain an unfair advantage in trade under the 1988 Act
  • Vietnam Taiwan, continues to meet the three manipulation criteria for enhanced engagement under the 2015 law
  • The US Treasury struck a deal with Vietnam in July to address concerns
  • Switzerland no longer fulfills the three criteria for an in-depth analysis
  • China’s inability to release currency intervention data lacks transparency makes it an outlier among major economies
  • Treasury raised concerns about China’s practices with Chinese counterparts
  • closely monitoring China’s data and policies, concerned about a very large and persistent bilateral trade surplus
  • the trade surplus threshold increased from $ 20 billion in goods and services surplus to $ 15 billion in goods and services surplus

Meanwhile, the SNB declares that the

  • he takes note of the US Treasury report on currency manipulation and its assessment of Switzerland
  • the central bank remains in contact with the American authorities to explain the economic situation and the monetary policy of Switzerland

The USDCHF fell on the jobs report, but rebounded higher.

Technically, the price fell below its 100-day moving average at 0.91793 after the report, but stalled near Wednesday’s trade low of 0.91688.

The price returned to its 100-hour moving average at 0.9206.


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