SNB may intervene in EUR/CHF 'as early as this week'

The EUR/CHF floor comes under pressure as the pair trades uncomfortably close to 1.20

Swiss flag
SNB may be forced to act

The Swiss National Bank (SNB) may be forced to intervene in currency markets as uncertainty about the outcome of the country's gold referendum places pressure on the Bank's floor in EUR/CHF.

A Yes vote will make it compulsory for Switzerland's central bank to increase its gold reserves to 20%, from the current 8%. The SNB has already indicated this move will force it to buy gold every time it buys euros, therefore constraining its ability to maintain its floor.

This uncertainty is spurring

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: