Swiss National Bank will not intervene in exchange markets

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Source: Bloomberg
© Scanpix/Reuters
The Swiss National Bank President Thomas Jordan announced on Wednesday that it is not necessary to intervene into foreign currency markets, as the franc exchange rate is stable. The Central Bank, in turn, will keep its franc-euro ceiling of 1.20. The weakening emerging economies and government crisis in the U.S. creates pressure on franc, as investors look for safe currencies to invest in.
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Wed, 09 Oct 2013 15:53:03 GMT

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