Switzerland's SNB still ready for forex intervention as U.S. drops manipulator tag

ZURICH, April 16 (Reuters) – The Swiss National Bank (SNB) said on Friday it remained ready to intervene in currency markets, after the U.S. Treasury dropped its currency manipulator label for the country despite it fulfilling criteria for the designation.

The Swiss central bank noted the U.S. Treasury Department did not use the term currency manipulator and in an updated comment said its foreign exchange purchases were in no way intended to alter Swiss balance of payments or provide an unfair advantage for the Swiss economy.

“The SNB’s position is therefore clear: Switzerland does not engage in any currency manipulation,” the SNB said.

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