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1 Feb 2015
SNB to introduce new EUR/CHF cap? - Tages Anzeiger
FXStreet (Bali) - The Swiss Franc is weaker across the board in early Asia, with some talk doing the round about a possible soft protective floor in the 1.05-1.10 vicinity for EUR/CHF, leading the pair to trade just under the 1.05 area in inter-bank trading, with volatility set to continue.
A report cited by Tages Anzeiger, read: "The Swiss National Bank SNB was operating with a sort of unofficial minimum euro exchange rate. There was talk of a “corridor” of CHF 1.05 to 1.10. This goal will not be communicated to the outside, the National Bank‘ll cost a lot: losses of up to 10 billion Swiss francs should be taken into account, says a well-informed source."
A report cited by Tages Anzeiger, read: "The Swiss National Bank SNB was operating with a sort of unofficial minimum euro exchange rate. There was talk of a “corridor” of CHF 1.05 to 1.10. This goal will not be communicated to the outside, the National Bank‘ll cost a lot: losses of up to 10 billion Swiss francs should be taken into account, says a well-informed source."