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Swiss Franc Strength Keeps Traders Jumpy
The Swiss franc is keeping currency traders nervous as it strengthens dangerously close to the point at which the Swiss National Bank could intervene to whack it lower. Few market participants seriously doubt the SNB's resolve to prevent the euro from falling below CHF1.20, in keeping with the floor that the central bank imposed in early September. It remains committed to defending that level with "unlimited" force even after the departure of its president Philipp Hildebrand, who quit in January over his wife's currency dealings. Any break in the SNB's floor would send the franc rocketing higher and other markets ... (full story)
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