On Sunday the Swiss people voted “No” in a referendum, known as the Save Our Swiss Gold initiative. The referendum result was expected, however the risk of a “Yes” vote had been weighing on the Swiss Franc, and the SNB’s potential to protect the EURCHF 1.20 floor. “The SNB will continue to enforce the minimum exchange rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities to this end. The SNB will take fur…
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