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The Swiss franc remains too high vs. the euro, says SNB Chairman Jordan, promising to defend the...
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Wednesday, November 28, 2012, 12:42 PM ETThe Swiss franc remains too high vs. the euro, says SNB Chairman Jordan, promising to defend the CHF 1.20 floor with "determination." The floor defense - printing francs in unlimited quantities - has ballooned the SNB balance sheet to 10X its level of 5 years ago. Running out of euros to buy, the bank now has 12% of its reserves invested in foreign stocks. And we give Bernanke a hard time?
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