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When Will SNB Intervene?
With Swiss Franc being near record highs against other major counterparts, market participants are beginning to wonder if a currency intervention is feasible. The Swiss National Bank has been noted to comment that further measures may be taken if necessary. Currency interventions do not generally tend to work on a longer term perspectives. In the matter of fact, currency interventions generally tend to have a success of merely couple of days. So, why intervene then? Well, the main purpose of an intervention is to change market’s perception. Does it work? Generally not, as shown by the Bank of Japan intervention ... (full story)