Swiss Central Bank President Martin Schlegel said that Switzerland and the US had productive talks on the central bank's monetary intervention, and refuted claims that Switzerland manipulated the Swiss franc exchange rate. “We are not an exchange rate manipulator,” he said on Friday, adding, “We have had a constructive dialogue with the US authorities on this issue.” Schlegel declined to elaborate further on the form or content of these talks, but a spokesperson later said that the SNB and the US authorities, particularly the US Treasury, are in progress.

Swiss Central Bank President Martin Schlegel said that Switzerland and the US had productive talks on the central bank's monetary intervention, and refuted claims that Switzerland manipulated the Swiss franc exchange rate. “We are not an exchange rate manipulator,” he said on Friday, adding, “We have had a constructive dialogue with the US authorities on this issue.” Schlegel declined to elaborate further on the form or content of these talks, but a spokesperson later said that the SNB and the US authorities, particularly the US Treasury, are in progress.