Franc Slide Doesn’t Mean SNB Is Done Intervening Just Yet
- Euro-franc at 1.05 seems to be SNB’s ‘line in sand’: TD Bank
- Morgan Stanley, Commerzbank foresee more action from SNB
Photographer: Stefan Wermuth/Bloomberg
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The franc’s weakness against the euro might provide some relief to the Swiss National Bank -- just don’t count on an immediate end to its interventions.
The Swiss currency fell to its weakest in a month earlier Tuesday on improved market sentiment and moves by the SNB to rein in the haven asset. Policy makers appear to have staged their biggest intervention in the foreign exchange markets since 2015 last week, and Morgan Stanley and Commerzbank AG say more may be looming.