The Swiss National Bank is buying fewer euros to enforce its currency policy, but diversification of its reserves out of the euro and into the Australian dollar, British pound and Swedish crown is unlikely to stop. The euro stands 0.7 percent higher than the ceiling of 1.20 francs per euro which the SNB imposed in September last year. The central bank is still intervening even though the euro's recent gains have seen the monthly pace of SNB reserve accumulation slow to a trickle compared with June and July. Since the SNB pledged to buy unlimited amounts of euros and protect the Swiss franc ceiling, its foreign ... (full story)