Whether they’re intervening verbally or actively buying and selling in the market, central banks will only succeed in buttressing their currencies for the long-term with interest rate hikes, Commerzbank AG warns. Switzerland, Sweden and Japan are among the countries where policymakers favor interventions, rather than matching the aggressive monetary tightening of other central banks, Commerzbank AG strategists led by Ulrich Leuchtmann wrote in a note. Those nations are breaking with decades of accepted practice and exposing themselves to significant risks, they said. Sweden is the prime example, and Commerzbank says ... (full story)