US labels Vietnam and Switzerland as currency manipulators
The US recently has labeled Vietnam & Switzerland as currency manipulators. When a country has a cheaper currency the costs of exports go down. The caveat of this is that the exchange rate makes traveling overseas more expensive as they will have less buying power within a country with a strong currency.
Aljazeera had this to offer:
The US Treasury concluded in its semiannual report delivered to Congress that Vietnam and Switzerland had met all three criteria for being designated a currency manipulator, including intervening heavily in foreign exchange markets in the four quarters through June 2020, resulting in an unfair advantage in trade.From Aljazeera, US Labels Vietnam, Switzerland currency manipulation
The irony of this statement will not elude most people. With the Fed printing massive amounts of dollars & then using these dollars to buy up failing company’s assets, not sure how you can point a finger at what other countries do with their currencies.
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