Swiss respond to removal from US currency manipulation list
The Swiss National Bank responded on Wednesday to the U.S. Treasury removing Switzerland from its monitoring list of countries that appeared to be manipulating their currencies.
Switzerland had run into trouble with the U.S. after the SNB’s massive purchase of foreign currencies, designed to weaken the safe haven franc as it surged in value.
The SNB has since changed course, allowing the franc to weaken as a tool to dampen imported inflation.
This article was written by Ryan Paisey at www.forexlive.com.