the us treasury didnt label any country a currency manipulator in its twiceannual review of the currency policies of major us trading partners released thursday that finding was consistent with the last foreignexchange report in june the treasury said again that it would continue to closely scrutinize switzerlands currency practices after it again surpassed thresholds in three monitored areas the three data points the countries intervention in foreignexchange markets their trade surplus with the us and the size of the surplus of their current account which is a broader measure of trade that includes financial flows the us has stepped up its talks with switzerland about its foreign exchange policies treasury said the currency report is aimed at watching for and discouraging countries from weakening their currencies to gain an export advantage in trade in 2022 many currencies have weakened against the dollar as the federal raise rapidly raises interest rates the strength of the dollar has pushed many countries to intervene to strengthennot weakentheir currencies the us favors marketdetermined exchange rates but treasury officials suggested that currency interventions may be warranted in some circumstances as the dollar rapidly strengthens treasury is cognizant that a range of approaches by developing and emerging economies to global economic headwinds may be warranted in certain circumstances treasury secretary janet yellen said in a statement beyond switzerland the treasury department said it would more loosely monitor the foreignexchange policies of several other trading partners the countries on that list are china japan korea germany malaysia singapore and taiwan