Treasury FXR struggles with realities of manipulation, DLT and the US payments system
Commentary: Currency manipulation realities
By Mark Sobel in Washington
Under the Bush and Obama administrations, foreign exchange reports didn’t label any country a currency manipulator. Yet, the US Treasury Department has just named Switzerland and Vietnam as such. While its latest FXR includes valuable analysis about responses to Covid-19, its mechanistic application of ‘enhanced analysis’ criteria leads to...