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at the start of 2020 the u.s. decided to drop China from its currency manipulator list something that may be seen as more of a symbolic gesture as the trade war continues to de-escalate however at the same time the u.s. added Switzerland to the manipulator list leading to the Swiss franc hitting a three-year high but what is a currency manipulator and why is this important heres your three minute explainer the term currency manipulator is a label the US Treasury gives to countries it sees as engaging in unfair currency activity with the intention of gaining some sort of trade advantage in an ideal world exchange rates will be set by the relative demand for those currencies for example if country a is selling a lot of products to other countries it means other countries will want to buy it the currency of country a to purchase those products with with this increase in demand it means the price of that currency will rise just like any other asset would as the price of that currency ris