The US has turned on one of the richest countries in Europe

The US has turned on one of the richest countries in Europe


2020-07-23 09:55:59

The US has turned on Switzerland, which is one of the richest nations in Europe, and is prepared to recognize it as a Forex manipulator. About this writes as regards to the largest Swiss financial keeping organization UBS Group.

Switzerland meets all three criteria which might be necessary for inclusion within the US listing of Forex manipulators. The country has a modern-day account surplus and a bilateral exchange surplus. In addition, Switzerland uses forex interventions, shopping for up greenbacks to prevent the Swiss franc from strengthening too much.

The nation has to hotel to currency interventions, as the demand for Swiss forex will increase for the duration of crises. Investors have traditionally taken into consideration the franc a safe haven for investment in the course of periods of uncertainty in the global economic system. In Washington, however, its miles believed that the Swiss authorities, artificially weakening their personal foreign money with the aid of buying up the dollar, are trying to provide nearby manufacturers with export blessings. The Swiss side rejects such accusations.

The United States in early 2020 has already covered Switzerland in the watch listing of nations, in step with Washington, manipulating exchange costs. Then the decision become made against the background of a report for 3 years of strengthening of the Swiss franc in the Euro, wrote


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