05.07.2016 - Swiss National Bank ramps up currency intervention after Brexit
The Swiss National Bank (SNB) went on its biggest foreign-currency buying spree since January 2015 in the wake of Britain's vote to leave the European Union, data showed on Monday. Commercial and other deposits with the SNB rose to 507.514 billion Swiss francs ($520.69 billion) from 501.231 billion the previous week, indicating the bank had bought foreign exchange on the market and then credited depositors' accounts. The bank is using negative rates, coupled with an unspecified amount of foreign currency purchases, to weaken the franc and protect exports to the euro zone, Switzerland's biggest trading partner...............................................Full Article: Source
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