Currency manipulation

US: Switzerland, Vietnam Manipulating Currencies

The United States (US) Treasury on Wednesday accused Switzerland and Vietnam of manipulating their currencies, partly to gain a trade advantage over American exports.In the semi-annual foreign exchange report, the US Treasury found the two countries were intervening in currency markets to affect balance of payments, and in the case of Vietnam, also aiming at "gaining unfair competitive advantage in international trade."US Treasury Secretary Steven Mnuchin called the decision "a

19 December 2020
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The renminbi’s bid for freedom

In early August, the renminbi’s exchange rate broke through the psychological threshold of CN¥7 per United States (US) dollar. While investors were still digesting the full significance of this event, US President Donald Trump’s administration startled the market by labelling China a “currency manipulator.”The designation is absurd, to say the least, because China doesn’t meet the US government’s own criteria for being a currency manipulator.

9 September 2019
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Trump’s currency confusion continues

Next month, the United States (US) Department of the Treasury is due to submit to Congress its biannual report detailing which countries, if any, are manipulating their currencies to gain an unfair trade advantage. For his part, President Donald Trump is already accusing China of doing so, as he did throughout the 2016 election campaign. And he is reportedly trying to influence the Treasury Department’s deliberations.What has changed since the last report in April?

23 September 2018
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