CHF gathers strength after US adds Switzerland to currency manipulator watchlist
|The United States' decision to add Switzerland to the currency manipulator watchlist on Tuesday provided a boost to the Swiss franc as investors saw this development as a factor that would make it difficult for the Swiss National Bank to intervene in the FX markets. Switzerland's State Secretariat for International Finance responded to the US decision in a statement reiterating that Switzerland is not manipulating its currency.
With the initial reaction, the EUR/CHF pair slumped to its lowest level since April 2017 and was last seen trading at 1.0766, down 0.38% on the day. Similarly, the USD/CHF pair was erasing 0.35% on the day at 0.9672.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.