The US Treasury released its latest semiannual currency policy report on Thursday, stating that it will enhance scrutiny of foreign exchange market interventions, but found no evidence of currency manipulation by any major trading partners.
The report, covering the period from the second half of 2024 to the first half of 2025, concluded that no major economies met the Treasury’s updated three-criteria framework for currency monitoring. However, Thailand was added to the watchlist due to its rising current account surplus and expanding bilateral trade surplus with the United States.
With Thailand’s inclusion, the number of economies on the watchlist has now increased to ten. Japan, South Korea, Vietnam, Ireland, and Switzerland remain on the list.
- Watchlist now includes ten economies
- Thailand added due to trade imbalances
- No country designated as currency manipulator