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How the Swiss Will Boost the Euro
The Swiss National Bank has trimmed its big euro position, taking downward pressure off the currency. It's been over a year since the Swiss National Bank set a cap on the Swiss franc's [CHF=X 0.9308 -0.0014 (-0.15%) ] value relative to the euro, [EUR=X 1.2961 0.0005 (+0.04%) ] and it has successfully defended that limit ever since, mainly by adding euros to its reserves. The process has come at a price for the: the SNB has been laboring to bring its reserve balances back to normal by reducing its euro holdings, placing significant downward pressure on the common currency. The good news for the euro is that the SNB's ... (full story)
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