Core Viewpoint - The U.S. Treasury Department's semiannual report indicates that no country has been designated as a currency manipulator, reflecting a stable exchange rate environment among major trading partners [1] Summary by Relevant Sections - **Report Overview** - The report assesses the macroeconomic and foreign exchange policies of major U.S. trading partners, which account for approximately 78% of U.S. goods and services trade [1] - **Currency Manipulation Findings** - As of the four quarters ending December 2024, the Treasury found no major trading partners manipulating their currencies against the U.S. dollar [1] - **Monitoring List** - The current "monitoring list" includes nine economies: Japan, South Korea, Singapore, Vietnam, Germany, Ireland, and Switzerland [1]

Core Viewpoint - The United States has not designated any country as a currency manipulator, indicating a stable approach to international currency relations [1] Group 1 - The U.S. government maintains that no countries are currently labeled as currency manipulators, which may reflect a diplomatic strategy to foster better trade relations [1]

Core Viewpoint - The United States has not designated any country as a currency manipulator, indicating a more diplomatic approach to international currency relations [1] Group 1 - The U.S. Treasury's report highlights that no countries met the criteria for currency manipulation, which may ease tensions with trading partners [1] - This decision reflects a shift in the U.S. administration's stance on currency practices, potentially fostering better trade relations [1] - The absence of currency manipulation designations may influence global market perceptions and investor confidence [1]

Group 1: US Dollar and Economic Outlook - The Director of the National Economic Council, Hassett, stated that US debt is the safest investment on the planet, and the decision by Moody's to downgrade the rating is retrospective [1] - US Treasury Secretary Basant is expected to attend the G7 finance ministers and central bank governors meeting in Canada, with no trade agreements anticipated to be announced [1] - White House Economic Council Chairman Milan noted that President Trump recognizes the deficit as an issue and has plans to reduce it [1] - White House Press Secretary Levitt indicated that the tax reform bill is closer to passing, emphasizing the necessity of Republican support for Trump's tax plan [1] - Federal Reserve's Bostic mentioned that Moody's downgrade will impact the entire economy and financial markets, reiterating an expected rate cut this year [1] Group 2: Non-US Major Currencies - The Reserve Bank of Australia cut the benchmark interest rate by 25 basis points to 3.85%, marking a return to the "3" range after two years [2] - Japan's 20-year government bond auction saw the lowest subscription ratio since 2012, leading to a spike in bond yields [2] - A member of the Bank of England, Dhingra, expressed support for a 50 basis point rate cut to signal the economic direction [2] - The European Commission's trade commissioner stated that the appreciation of the euro is a double-edged sword [2] - The European Central Bank's Müller did not rule out the possibility of further rate cuts, emphasizing the need for clear justification for significant reductions [2] Group 3: Other Economic Developments - Thailand's finance minister projected a significant slowdown in the Thai economy in the third and fourth quarters [3] - A Russian government source indicated acceptance of the ruble depreciating to 100 against the dollar [3] - A Reuters survey revealed that among 32 analysts, 20 expect the Bank of Indonesia to cut the 7-day reverse repo rate by 25 basis points to 5.50% on May 21 [3]

Core Viewpoint - The Swiss National Bank (SNB) Governor, Thomas Jordan, stated that Switzerland is not a currency manipulator and that interventions are conducted solely to fulfill responsibilities, specifically to slow down the rapid appreciation of the Swiss franc rather than to gain a competitive advantage [1] Group 1 - The SNB's interventions are aimed at mitigating the excessive valuation of the Swiss franc [1] - The actions taken by the SNB are not intended to provide Switzerland with a competitive edge in international markets [1]

Core Viewpoint - The Swiss National Bank (SNB) Governor stated that constructive discussions regarding foreign exchange issues were held with the United States, emphasizing that Switzerland is not a currency manipulator [1] Group 1 - The SNB is engaging in dialogue with the U.S. to address foreign exchange concerns [1] - The statement reinforces Switzerland's position against being labeled as a currency manipulator [1]

台湾地区"央行"：不会操纵汇率。 ...