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Swiss Franc and SNB interventions It was another day of heavy SNB interventions. The central bank kept the euro nearly stable. As we explained before, she recycled sterling inflows in CHF into euros. Based on the magnitude of the GBP decline against EUR (see below), we estimate 2 to 4 bn CHF interventions. Click to enlarge. Brexit The British pound has been hammered to fresh lows just above $1.3115. The euro is...
Read More »FX Daily, July 05: Sterling Hammered to New Lows, Yen Pops, SNB intervenes
