SNB devaluation attempt flounders as Swiss franc rebounds


The Swiss franc on Friday regained much of its value after the Swiss National Bank (SNB) moved to stem the appreciation of its currency.

In response to the soaring value of the Swiss franc, the Swiss central bank on Wednesday narrowed the target range for the three-month Libor, its operational target, from 0-0.75% to 0-0.25%. It also expanded banks' deposits at the central bank from around Sfr30 billion ($39.13 billion) to Sfr80 billion, which is intended to increase the supply of liquidity to t

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