Has the SNB accepted a stronger franc?
Swiss central bank reduces FX interventions as currency breaks 1.05 ceiling against the euro
The Swiss National Bank (SNB) seems to have accepted a stronger franc than the level it has targeted since 2011.
On November 19, the national currency dropped below 1.05 against the euro, the culmination of a gradual appreciation that began in March. Over the past eight months, the currency has risen by 6%, reaching 1.04 per euro in earlier trading today (December 1). This is the highest level since July 2015.
“The focus for the franc naturally tends to be on the bilateral exchange rate with
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