Tag: Switzerland

US Treasury Rescinds China “Currency Manipulator” Label

The US Treasury has determined that China should no longer be designated as a currency manipulator. In a new report, Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States, the Treasury cites economic reforms and commitments from China to refrain from devaluing the renminbi (RMB) as the reasons for this decision. […]

Swiss Authority Fines Banks Over FX Manipulation

The Swiss competition authority, the Competition Commission, has become the latest jurisdiction to levy fines on six banks related to their dealers’ activity in several chat rooms. COMCO says it has detected several anti-competitive arrangements between banks in foreign exchange spot trading and concluded “amicable” settlements and imposed fines of around CHF 90 million. Therefore, […]