The Swiss National Bank, which last month scrapped the cap it had
imposed on the value of the franc, is unofficially targeting an exchange
rate of 1.05 to 1.10 Swiss francs per euro, a Swiss newspaper reported
on Sunday.
The SNB was operating “a kind of minimum exchange rate against the euro”, Schweiz am Sonntag newspaper said.
“The talk is of a ‘corridor’ from 1.05 francs to 1.10 francs,” the paper said. It also cited a well-informed source as saying the bank would incur losses of up to SFr10 bn, without giving a timeframe.
A spokesman for the central bank declined to comment on the story.
Read more at Click here / www.trade4x.net
The SNB was operating “a kind of minimum exchange rate against the euro”, Schweiz am Sonntag newspaper said.
“The talk is of a ‘corridor’ from 1.05 francs to 1.10 francs,” the paper said. It also cited a well-informed source as saying the bank would incur losses of up to SFr10 bn, without giving a timeframe.
A spokesman for the central bank declined to comment on the story.
Read more at Click here / www.trade4x.net
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