Switzerland fights against the overrating of their currency

 

The Swiss National Bank (SNB) says on the currency speculators who have driven the Franks again in the height of the fight: The Federal Reserve put on Tuesday set a minimum rate of 1.20 francs per euro.


With unlimited foreign exchange purchases by the monetary authorities want to prevent SNB President Philipp Hildebrand that the Euro falls below this level.

This should be spoiled, especially the financial speculators. Than was previously expected that a new pushwould result in the euro debt crisis and adverse economic data from the U.S. to escape an insecure investors in the Swiss franc and thus to an appreciation of the Swiss currency. Then the speculators could sell previously purchased francs at a profit.