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Swiss FX Reserves Boom As SNB Battles To Contain Franc
The scale of Switzerland's frantic efforts to hold down the franc became clearer Friday, as the country's central bank revealed a chunky rise in its foreign-currency reserves over the course of last month. The value of the Swiss National Bank's foreign currency reserves climbed to a record 364.9 billion Swiss francs ($376 billion) in June, from an upwardly revised CHF305.9 billion in May, central bank data showed Friday. Analysts said that with the euro under persistent pressure, and probably set for further losses in the light of fresh easing of monetary policy by the European Central Bank Thursday, the pace of ... (full story)
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- krunfx
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- spekitox
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forget about tomorrow, just steal away into the night
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