Weaker franc gives SNB newfound leeway

Swiss franc 20 and 50

As the eurozone grows more strongly and fears about the future of the currency union abate, investors are returning to the euro and abandoning the safety provided by the Swiss franc, which is at its lowest level against the single currency in more than two years.

The euro is trading at Sfr1.14, up by more than 3% since last week. For the franc, which has barely moved since the Swiss National Bank (SNB) removed its upper limit in January 2015, this is a sharp fall that gives the SNB breathing

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