Swiss National Bank set to post half-year loss of $3.8 billion

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The Swiss National Bank on Tuesday said it expected to make a half-year loss of Sfr4 billion ($3.8 billion) on the back of its attempt to halt the Swiss franc's appreciation against the euro.

The SNB said it had increased its foreign currency investments by Sfr132 billion in the first half of this year, mostly buying euro-denominated assets. The euro depreciated sharply against the Swiss franc in the six months to June on the back of the sovereign debt crisis. At the start of the year, one Swiss

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