Still waiting on the Treasury FX report
The SNB is doing its thing in the FX market but the US isn't a fan of manipulation and they've met all the criteria to be named an FX manipulator in the Treasury's semi-annual report.
The issue is that the report was deferred at the height of the pandemic and then the October edition was delayed until after the election.
I don't think the Treasury goes after Switzerland because it's not politically expedient but it would be a way of throwing Biden a hand-grenade on the way out the door.
