Currency Wars The US Treasury has added China, Germany, South Korea, Switzerland, Malaysia, Singapore, and Taiwan to its "watch list" for currency practices. The US Treasury report aims to put pressure on trading partners suspected of keeping exchange rates artificially low to gain a competitive advantage. However, the Ministry of Finance refrained from labelling any counterparty as a currency manipulator. Most of the foreign exchange intervention by the U.S. trading partners last year took the form of dollar selling, which