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SNB’s Frenzied Currency Battle May Give Way to Easier 2021
Swiss National Bank President Thomas Jordan has reason to expect a less intense 2021 after a multi-billion currency battle this year that put Switzerland in the crosshairs of U.S. authorities. The combination of a landmark European Union fiscal package and the anticipated global economic recovery driven by the rollout of Covid-19 vaccines will likely dampen demand for haven assets such as the Swiss franc, and a survey sees the currency weakening through 2021. That should bring relief for Jordan ahead of the last scheduled policy decision of 2020 on Thursday. It means the SNB won’t have to dig as deep as it did this ... (full story)