After Draghi’s positive remarks about the eurozone, and some negative rate rumors in Switzerland, markets are long EUR/CHF and FX traders are playing currency games against each other. But still the SNB had to buy additional 1 billion CHF of reserves last week and this at higher price, at 1.2150 and more. In the first January week they possibly started first sterilizations, see details. There seem to be any serious investor who wants move his money away from the Swiss bank account denominated in francs.
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Tags: FX traders,Sterilization