Brightbridge Wealth Management Headlines: Switzerland: Return To Floating Exchange Rate Dismissed
posted by benenloep 18 days ago under brightbridge wealth management, brightbridge wealth management zurich, brightbridge wealth management headlines-switzerl, brightbridge wealth management headlines-asia loo
The euro recently fell for the first time below the minimum limit of SFr1.20 ($1.31 ) set by the Swiss National Bank (SNB) in September 2011.
However, currency experts agree that the temporary slip that occurred during Easter week does not require a change in exchange rate policy. Thomas Jordan, vice-president and interim president of the SNB, defended his institution at the start of this week and said that doubts about the exchange rate policy were “unfounded”. Jordan repeated the central bank’s willingness “to buy foreign currency in unlimited amounts” in order to keep the franc within the specified limits. He also confirmed that the Swiss currency “remained overvalued”. His explanation came after a few financial transactions on April 5 jolted the Easter-time lack of currency movement, causing the euro to trade at SFr1.19. It was the first time the franc had fallen below the minimum limit established by the SNB seven months ago. » Brightbridge Wealth Management Headlines: Switzerland: Return To Floating Exchange Rate Dismissed |
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